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Zim inflation sheds over 21 percentage points in November

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Zimbabwe’s monthly inflation stood at 17.46% in November, shedding 21.29 percentage points on the October 2019 rate of 38.75%, according to ZimStat.

This is the country’s lowest inflation rate since May, according to Trading Economics.

The southern African country no longer publishes annual inflation figures till February 2020, but statistics supplied by Zimstats still make it possible to independently calculate the annual rate, which stood at 480.7%, according to Fin24’s calculations.

Amid drought and limited local supplies, Zimbabwe has been battling price increases as retailers indexed prices to the outlawed United States dollar.

The month-on-month Food and Non-Alcoholic Beverages inflation rate stood at 22.63% in November 2019, shedding 25.72 percentage points on the October 2019 rate of 48.35%.

The month on month non-food inflation rate stood at 13.94%, shedding 18.96 percentage points on the October 2019 rate of 32.90%.

The data on prices was collected during the period from 13 to 19 November 2019.

Utilities and fuel had a major impact in October, this after authorities aligned fuel prices and electricity tariffs to the depreciating foreign currency exchange rate.

As of Monday, the Zimbabwean dollar was trading at Z$16.57 to US$1.

In February, when the Zimbabwean dollar was floated, the rate was Z$2.5 to US$1.