Zimbabwe’s annual inflation continues to decelerate from highs of around 800% last June, with annual inflation slowing to 161,91% in May from 194,07% the previous month, according to new numbers from the Zimbabwe National Statistics Agency.

Authorities are targeting an annual inflation rate of below 55% by year end.

The latest numbers however showed that Zimbabwe’s month on month inflation rose to 2,54% from 1,58%.

“The month on month inflation rate in May 2021 was 2,54% gaining 0,96 percentage points on the April 2021 rate of 1,58%,” said the national statistics body.

“The year on year inflation rate (annual percentage change) for the month of May 2021 as measured by the all items Consumer Price Index (CPI) stood at 161,91%.”

Meanwhile, the consumer price index (CPI) for the month ending May 2021 stood at 2,874.85 compared to 2,803.57 in April 2021 and 1,097.65 in May 2020.

The blended consumer price index for May 2021, the month on month inflation rate in May 2021 was 1,80% gaining 0,86 percentage points on the April 2021 rate of 0,94%.

And the year on year inflation rate (annual percentage change) for the month of May 2021 as measured by the all items blended CPI stood at 74,57%.

The blended CPI for the month ending May 2021 stood at 115,61 compared to 113,57 in April 2021 and 66,23 in May 2020.