January Inflation Rose To 362%

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ZIMBABWE’S annual inflation rate rose to 362.63% in January, up from 348.59% recorded last December, the Zimbabwe National Statistics Agency (Zimstat) said Wednesday.

“The month-on-month inflation rate in January 2021 was 5.43 percent, gaining 1.21 percentage points on the December 2020 rate of 4.22%,” the statistics agency said.

The January figures mark the first time that the country has produced inflation data during the same month, following the adoption of computerization by Zimstat.

Previously, data collection and processing were paper-based, resulting in the agency publishing inflation figures 30 days after data collection.

Zimbabwe’s inflation has been on a downward trend since August last year, following the introduction of a foreign exchange auction trading system that has brought stability to the foreign exchange market.