The Reserve Bank of Zimbabwe has said inflationary pressures have become "the greatest single challenge" to stabilisation measures and growth prospects, according to a report this week in the independent newspaper, 'The Insider'.
Recalling that inflation in Zimbabwe had hit an all-time high of 52.8 percent in March, it said some analysts expected an increase to 57 percent, while this year's average figure was projected at 38 percent, up from 31 percent last year. "But while, in the past inflation has been pushed by rising food costs, with food constituting 29.2 percent of the Consumer Price Index weighting, over the past few months, food inflation
has actually been declining while core inflation has been on the
increase," the report said.
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