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Zimbabwe October Inflation Soars to 38.75%  


FILE:raders work at the Zimbabwe Stock Exchange in Harare, Tuesday, Aug. 6, 2013.

HARARE (Reuters) - Zimbabwe’s month-on-month inflation rate soared to a four-month high of 38.75% in October from 17.7% the previous month, propelled by a surge in the prices of food and alcholic beverages, statistical agency Zimstats said on Friday.

The southern African will resume publication of annual inflation data next February after suspending it this year.

Finance Minister Mthuli Ncube said in a budget statement on Thursday that the monthly inflation rate was expected to fall to single digits in the first quarter of 2020, but analysts say price pressures will remain elevated.

Reporting by MacDonald Dzirutwe; editing by Olivia Kumwenda-Mtambo

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