Economy

Zimbabwe inflation quickens in February

Date: Mar 15, 2019

Zimbabwe’s inflation rose to a new 10-year high of 59.39% year-on-year in February from 56.9% in January, pushed by increases in the price of basic goods, Zimstats said on Friday.

On a monthly basis, prices increased 1.67% in February, compared to 10.75% the previous month.

Central bank Governor, John Mangudya said on Monday annual inflation should fall to between 10 and 15% by the end of the year but economists say the figure could be higher due to price pressures from the exchange rate and a drought.

--Reuters--

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