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Inflation down

    NAIROBI

    The inflation rate in Zimbabwe dropped to 53.4 percent in the year to July, from 59.3 percent in the year to June, the Central Statistical Office (CSO) said in a statement on Wednesday.

    But news reports quoted the CSO as saying the impact on inflation by a recent fuel price increase was yet to be felt. It said the unspecified month-on-month figure for July was lower than for the same month last year, but offered no explanation for the decline. Independent economists have forecast an inflation rate of 70 percent by the end of the year because of fuel and electricity hikes.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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