Monday, March 4, 2024
HomenewsZimbabwe’s Inflation Surges After Local Currency (ZWL:USD) Rout

Zimbabwe’s Inflation Surges After Local Currency (ZWL:USD) Rout

Inflation in Zimbabwe surged as a currency rout pushed up the prices of goods and services, adding to pressure on the central bank to act.

Consumer prices rose an annual rate of 34.8% in January from 26.5% in December, according to data released by the Zimbabwe National Statistics Agency at an online briefing on Monday. Prices advanced 6.6% in the month compared with 4.7% in December. The major drivers of the inflation surge were food and services including housing and electricity, the statistics agency said.

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