Zims inflation slows down

By ZBC Reporter
THE Government’s progressive policies have seen the countrys year on year inflation dropping in the month of September.
Before government’s intervention through the central bank, $8,4 billion was circulating outside formal monetary systems, thereby fuelling price increases and instability on the foreign exchange markets.
However, following the stamping out of mobile money agents, introduction of an auction system, withdrawal limits for mobile money transactions, sanity is now prevailing as evidenced by price stability.
Economist Lazarus Nyagumbo says the latest ZimStat data showing that year on year inflation dropped to 659,4 percent from 761 percent in August is a sign of approval for continued stability.
Upsound we are moving towards interesting times but lets just wait and see how it will go in the future,.
Another economist Persistence Gwanyanya says inflation is likely to continue declining.
“It is just a matter of time but when such things happen there is that element for  confidence,” he said.
However, another economic analyst, Tendai Chinamasa said sustainability of the auction system is key to price stability.
“It is all about how the system can be sustained in the near future,” he said.
Inflation which is a measurement of the rate at which prices are increasing is also slowing down on the back of the stabilising Zimbabwean dollar against major trading currencies.

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