From All Africa
Economic experts have predicted a further decline in Zimbabwe’s inflation rate as the country’s economy slows down and local prices track the declining value of the South African rand, resulting in generally decreasing local prices.
Latest inflation figures released by the Zimbabwe National Statistics Agency (Zimstat) show that the year-on-year inflation rate (annual percentage change) for the month of May 2013 as measured by the all items Consumer Price Index (CPI) dipped 0,29 to 2,20% from the April 2013 rate of 2,49%.
However, while prices as measured by the all items CPI increased by an average of 2,20 percentage points between May 2012 and May 2013, the month-on-month statistics show that prices are actually falling.
The month-on-month inflation rate in May 2013 was -0,21% which was 0,14% lower than the April 2013 rate of -0,07%.
According to Zimstat, this implies that prices as measured by the all items CPI decreased at an average rate of 0,21% from April 2013 to May 2013.
Read more at allafrica.com
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