Hyperinflation fears stoked as Zim’s annual inflation soars ...

Business

Hyperinflation fears stoked as Zim’s annual inflation soars above 500%

Figures evoke memory of 10 years ago when when savings were wiped out and the economy collapsed

Agency staff

Zimbabwe’s annual inflation soared to more than 500% in February, the country’s statistical agency said on Monday, releasing its first consumer price data since June 2019.

“The year-on-year inflation rate for the month of February as measured by the all-items CPI (consumer price index) stood at 540.16%,” the Zimbabwe National Statistics Agency tweeted.

Zimbabwe suspended the publication of annualised consumer price data in June 2019, when inflation at 176%...

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