Month-on-month inflation drops

By Stanley James, Business Editor

Zimbabwe’s price stability system continues on the back of a tight monetary policy that has lead to a reduction in inflation levels.

Latest data by ZIMSTAT shows that the annual inflation for the month of November dropped to 255 percent from 268 percent.

The data indicates that month-on-month inflation has also declined to 1,8 percent.

Market watchers attribute the development to continued tightening of the monetary policy stance including fiscal authorities’ tight spending systems.

Both government and monetary policy authorities have committed themselves to maintaining stability within the economy.

The latest inflation data is being released when the 2023 national budget is further focusing on consolidating current stability gains.

Inflation refers to the rate at which prices are increasing over a given period of time.

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