World News

Zimbabwe’s inflation close to 100%

Zimbabwe’s annual rate of inflation has reached the highest it’s been in more than ten years at 97,85%

Zimbabweans have been hit with the weakening local RTGS dollar which is causing food prices to rise and making life very difficult.

Inflation in May was at 75.86%.

Zimstats estimated calculation is based on a limited range of products and economists predict it could be higher than reported.

The local dollar is said to be trading at more than 1:9 for the US due to shop prices being linked to the black market rate of exchange.

According to Zimstats the year-on-year inflation for food and nonalcoholic beverages is at 126.43% and nonfood was 85.94%