The Confederation of Zimbabwe Industries (CZI) has resorted to producing its own inflation estimates as an alternative to official figures by the Zimbabwe Statistics Agency (ZimStat).
ZimStat figures are based on a blended Consumer Price Index , which the CZI and other constituencies say is not an appropriate measure.
Over the years, market watchers have accused ZimStat of downplaying inflation figures in order to paint a glossy picture for the country.
Renowned world economic analyst Steve Hanke has been producing inflation figures which according many are a true reflection of what is on the ground.
In most cases his figures revealed that the actual inflation is two or three times more than the official rate produced by ZimStat.
Apparently, Commenting on the recently introduced gold-backed digital currency, Hanke says:
”Zimbabwe’s ‘gold-backed’ digital currency doesn’t fool anyone. These tokens aren’t convertible into gold or gold coins. Zimbabwe must DOLLARIZE, as it did from 2009-13.”
Zwnews
