HARARE- Zimbabwe’s annual inflation increased to 57.5 percent in April this year, a 0.6 percentage points climb from March on the back of rising prices of goods and services, data released on Monday shows.
According to the National Statistics Agency (Zimstat), the country’s inflation stood at 55.3 percent in March.
The US dollar inflation was however steady at 3.2 percent and this was the first time Zimstat has published US dollar-based inflation figures.
The statistics agency said it will start computing monthly inflation data based on its new currency, the ZiG, from this May.
It said ZiG inflation data will begin to be published in May going forward.
The month-on-month inflation rate for April 2024 was 0.8 percent, gaining 0.6 percentage points on the March 2024 rate of 4.9 percent.
The year-on-year inflation rate for the month of April 2024, as measured by the all-items CPI was 3.2 percent.
The month-on-month inflation rate for April was 2.9 percent shedding 0.5 percentage points on that for March which was 4.9 percent.
The year-on-year inflation rate for April as measured by the all items CPI was 57.5 percent.
“For April, the CPI for food and non-alcoholic beverages had the highest contribution to the month-on-month change in index (inflation rate) of 1.3 percent followed by housing, water, electricity, gas and fuels with a contribution of 1 percent,” said the agency.
The US dollar Consumer Price Index (CPI) was pegged at 106.76 in April and 105.96 in March.
In April 2023, the index was 103.45.
As a result of inflation, the Food Poverty Line (FPL) for one person rose by 51,31% to ZiG424,95 in April.
According to Zimstat, one person required at least ZWL701 236,89 for the month of March to buy food.
Since the Zimbabwe dollar (ZWL) was dropped for the ZiG currency on April 5, the March FPL translates to ZiG280,49 per person, showing an increase in the April figure.
