Zimbabwe’s Inflation Is Back Above 100% After Currency Plunge

Zimbabwe’s inflation rate jumped back into triple digits in May after the central bank effectively devalued the local currency by introducing a new interbank rate at which most commerce will take place.

Annual inflation quickened to 131.7% from 96.4% in April, ending a 10-month period in which the rate was below 100%. Costs rose 21% in the month, the fastest pace since July 2020. Food prices increased more than 150% from a year earlier.