Zimbabwe’s annual rate of inflation dropped to 50,24 percent this month from 56,37 percent in July as fiscal and monetary authorities forge ahead with macro-economic turnaround policies.
The Zimbabwe National Statistics Agency (Zimstat) reveals there was a marginal decline in the year on year inflation figures compared to the previous month on the back of pressures on pricing trends.
Food and non-alcoholic beverages accounted for the huge chunk of inflation pressures during the course of the month.
According to Zimstat, the trend led to the month on month inflation rate marginally gaining, reflecting some minimal price increases within the economy.
However, the double digit year on year inflation trend which started last month is still on track, despite marginal pricing adjustments.
Several listed companies noted in their recent audited financial results that the reduction in year on year inflation positively affected their overall performances.
Zimbabwe’s inflation which has been on a downward trend during the past few months is being predicted by the central bank to end the year between 25 and 35 percent.