Maravi

(NEWZIMBABWE, AFP) Inflation slows to 4,1 percent

Inflation slows to 4,1 percent
by AFP
23/08/2010 00:00:00

ZIMBABWE'S annual inflation rate in July stood at 4,1%, declining from 5,3% the month before, the government statistics agency said on Monday. The Zimbabwe National Statistics Agency said food inflation eased from 7,39% in June to 7,11% last month. Non-food inflation fell from 4,42% to 2,9%.

A decade of hyperinflation ravaged Zimbabwe's economy until the formation of a unity government last year and the decision to abandon the local currency in favour of US dollars.

The last official estimate of inflation in Zimbabwe dollars in 2008 was 230 million percent but independent experts said the real figure was in the billions.

Finance Minister Tendai Biti last month said the country's inflation will continue to slow this year. - AFP

Labels: INFLATION

posted by MrK @ 4:43 PM