Zimpapers Logo

Business Reporter
Annual inflation for October gained 1,46 percentage points to 2,24 percent from the September rate of 0,78 percent. According to the Zimbabwe National Statistics Agency (Zimstat), this means that prices as measured by all items consumer price index (CPI) increased by an average rate of 2,24 percent between October 2016 and October 2017.

The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year. Year on year food and non-alcoholic beverages inflation prone to transitory shocks stood at 4,4 percent whilst the non-food inflation rate was 1,25 percent. The month on month inflation rate in October 2017 was 1,54 percent gaining 1,16 percentage points on the September 2017 rate of 0,38 percent.

“This means that prices as measured by the all items CPI increased at an average rate of 1,54 percent from September 2017 to October 2017,” said Zimstat. Statistics from the Zimstat further shows that month on month food and non-alcoholic beverages October rate stood at 2,27 percent after gaining 1,61 percentage points on the September 2017 rate of 0,66 percent. On the other hand, the month on month non-food inflation rate stood at 1,2 percent, gaining 0,95 percentage points on the September 2017 rate of 0,25 percent. Since mid-September, Zimbabwe has experienced unilateral increases in price of commodities, both locally produced and imports.

“In October 2017, price increases were observed in all the major eleven divisions of the CPI basket except in education division where prices remained constant,” said Zimstat. Observations made revealed products were increased in prices in all the provinces among them beef, rice, biscuits, fish, milk, cooking oil, margarine tinned vegetables fruit and vegetable juices within the food and non-alcoholic beverages division. According to the statics agency, there are 495 products, whose prices are observed every month in all the country’s districts. The CPI basket is structured according to classification of individual consumption by purpose, with 12 divisions. These are food and non-alcoholic beverages, alcoholic beverages, clothing and footwear, housing, water, electricity, gas and other fuels, furniture, health, transport, communication, recreation and culture, education, restaurants and hotels as well as miscellaneous goods and services.