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Friday, May 24, 2024

Month-on-month inflation declines

Story by Owen Mandovha, Business Reporter

TREASURY and monetary authorities measures to tame inflation are bearing fruit after month-on-month inflation declined to 1,6 percent in February.

According to the latest statistics released by the Zimbabwe Statistical Agency (ZIMSTAT), month-on-month inflation has crumbled from 2,8 percent in December to 1,6 percent in February, in a development that comes as a huge relief for the average consumer.

The statistics also show that year on year inflation continues to recede and stands at 92.3 percent for the month of February.

On the exports side, January exports declined to US$428.9 million from US$633 million in December in tandem with the period when most companies will be on annual shutdown, hence a recorded trade deficit of US$170 million.

The Food Poverty Datum line was 22 thousand ZWL$386 for a single person which represents the amount of money a person needs to meet the daily food consumption of 2 100 calories.

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