Inflation & Prices
Zimbabwe Inflation Hits Six-Month High as Currency Plunges
- Local unit has lost nearly two-thirds of value against dollar
- Authorities working on plans to address the currency’s slide
A customer pays for goods in Harare, Zimbabwe.
Photographer: Cynthia R Matonhodze/BloombergZimbabwe’s inflation rate jumped to its highest level in six months as the local dollar continued its losing streak against the greenback, in one of its worst starts to the year since the currency’s reintroduction in 2019.
Annual inflation surged to 47.6% in February from 34.8% a month before, the Zimbabwe National Statistics Agency said Thursday in an online briefing. Consumer prices rose 5.4% in the month from 6.6% in January.