africa Currency Economy Inflation Zimbabwe

Zimbabwe’s inflation rate eases to 2.68% in March

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Zimbabwe’s annualised consumer inflation dropped marginally to 2.68 percent in March on the back of stable prices of foodstuffs, official data showed on Monday.

The Zimbabwe National Statistical Agency said consumer inflation eased 0.3 percentage points, year-on-year, from 2.98 percent in February.

On a monthly basis, the inflation stood at minus 0.25 percent in March, down from 0.08 percent in February.

The month-on-month rate is indicative of declining food prices.

The dollarized Zimbabwean economy, which imports more than half of its products from neighbouring South Africa, has benefited from the recent stability in the value of the Rand against the United States dollar.

The US dollar is the most dominant currency used in Zimbabwe since the southern African country adopted a multi-currency regime in 2009.

Other currencies in the basket and are accepted for payments in Zimbabwe include the Euro, Pound Sterling, Chinese Yuan and the Botswana Pula.

Source: Journal du Cameroun

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