Back to Index

Inflation shoots to 1 070.2 percent
ZimOnline
November 13, 2006

http://www.zimonline.co.za/Article.aspx?ArticleId=449

HARARE – Zimbabwe’s annual inflation galloped to 1 070.2 percent in October after a rare slow down in September, the government’s Central Statistical Office (CSO) said on Friday.

Inflation, described by President Robert Mugabe as Zimbabwe’s enemy number one, dipped in September to 1 023.3 percent from a record high of 1 204.6 percent in August.

Figures released by the CSO showed inflation was on an upward climb again. "Prices as measured by the all items Consumer Price Index (CPI) increased by an average of 1 070.2 percent between October 2005 and October 2006," the CSO said in a statement.

It added that inflation measured on a month-by-month basis had surged by 12.7 percentage points to 27.5 percent in October from the 14.8 percent recorded in September.

Hyperinflation highlights an acute economic crisis gripping Zimbabwe for the past seven years and which has also spawned shortages of fuel, electricity, essential medicines, hard cash and just about every basic survival commodity. - ZimOnline

Please credit www.kubatana.net if you make use of material from this website. This work is licensed under a Creative Commons License unless stated otherwise.

TOP