Year on year inflation falls to 300 per cent

By ZBC Reporter

ECONOMISTS expect the country’s inflation to continue on a downward trend following the massive fall of year on year inflation in February.

This comes as Zimbabwe’s year on year inflation has plummeted from as high as 700 percent in February last year to 300 percent in the same month this year.

Economists therefore  believe the downward trend is testimony of government’s financial prudence with respect to the management of fiscal and monetary policies.

Speaking to ZBC News Economist Dr Prosper Chitambara highlighted that the current trend was testimony to the positive impact brought about by government policies.

Inflation’s downturn is a good measure of the current macroeconomic strategies being implemented as such it is encouraging to realize these strategies are bringing positive impact to the economy which should be commendable, he said.

Another economist Mr Titus Mukove echoed the same sentiments highlighting that the current situation is conducive for the country to achieve set goals.

The trend analysis of inflation is pointing to a great recovery of the economy as high inflation distorts everything hence the obtaining situation is good for the country to achieve its set targets, he added.

Inflation is expected to continue slowing down this year on account of an improved agriculture season which will ultimately reduce the country’s import bill.

The post Year on year inflation falls to 300 per cent appeared first on ZBC NEWS.

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