Zimbabwe appears to still be on the path to meet its ambitious 10 percent annual inflation target by year end as inflation declined 46.48 percentage points in April to 194.07 percent, according to latest data from the Zimbabwe National Statistical Agency (ZimStat).
The country’s inflation reached its modern peak at 837,5 percent last July.
Inflation stood at 240.55 percent in March.
Said ZimStat:
“This means that prices as measured by the all items CPI (Consumer
Price Index) increased by an average of 194.07 percent between April
2020 and April 2021.”
The CPI for the month ending April 2021 stood at 2, 803.57 compared to 2, 759.83 in March 2021 and 953.36 in April 2020.
The latest numbers show that month-on-month inflation also slowed down during for April.
Month-on-month inflation was 1.58 percent, having shed 0.67 percentage
points.
In terms of the Blended Consumer Price Index (ZWL and US$) for April 2021, the month on month inflation rate in April 2021 was 0.94 percent shedding 0.15 percentage points on the March 2021 rate of 1.09 percent.
The year on year inflation rate (annual percentage change) for the month of April 2021 as measured by the all items blended Consumer Price Index (CPI) stood at 94.70 percent.
The blended CPI for the month ending April 2021 stood at 113.57 compared to 112.51 in March 2021 and 58.33 in April 2020.
Authorities are targeting annual inflation to go down to below 100 percent by mid-year.