Inflation & Prices
Zimbabwe Inflation Back at Three Digits After Currency Crashes
- Inflation quickened to 175.8% in June from 86.5% in May
- Industry body says inflation target is ‘under serious threat’
Bundles of Zimbabwean banknotes and coins.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Zimbabwe’s annual inflation rate raced to triple digits for the first time in five months after multiple devaluations of the local currency led prices to surge.
The blended consumer price index, which the southern African nation adopted as its inflation benchmark in February, rose 175.8% in June from 86.5% the previous month, Zimbabwe National Statistics Agency said at a briefing. Prices climbed 74.5% in the month, compared with 15.7% in May.