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Zimbabwe’s annual inflation for April 2024 rises to 57,5%

Zimbabwe’s annual inflation for April 2024 rose to 57,5%, up from 55,34% in March 2024 despite the introduction of the Zimbabwe Gold (ZiG) currency which was expected to stabilize prices and exchange rates.

The Zimbabwe National Statistics Agency (ZIMSTAT) on Monday said the year-on-year inflation rate (annual percentage change) for April 2024 as measured by the all-items Consumer Price Index (CPI), was 57,5%. It said:

This means that prices as measured by the all items CPI, increased by an average of 57,5% between April 2023 and April 2024.

The month-on-month inflation rate was 2.9%percent in April 2024, shedding 2% on the March 2024 rate of 4,9%.

This means that prices as measured by the all items CPI, increased by an average of 2,9% between March 2024 and April 2024.

ZIMSTAT also said the month-on-month Food and Non-Alcoholic Beverages inflation rate was 4.2 per cent in April 2024, shedding 3.9 percentage points on the March 2024 rate of 8.1 per cent.

The April 2024 month-on-month non-food inflation rate was 2,4% shedding 0.6%on the March 2024 rate of 3%.

The Food Poverty Line (FPL) for one person in April 2024 was ZiG424.95, while one person’s Total Consumption Poverty Line (TCPL) was ZiG 650.26 in April 2024.

According to ZIMSTAT, the month-on-month USD inflation rate for April 2024, was 0.8%, gaining 0.6 percentage points on the March 2024 rate of 0.2%.

The year-on-year USD inflation rate for the month of April 2024, as measured by the all-items Consumer Price Index (CPI), was 3.2%.

The agency also said for the month of April 2024, the CPI for Housing, Water, Electricity, Gas, and Other Fuels had the highest contribution to the month-on-month change in index (inflation rate) of 0.4%.

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