The country’s inflation has eased to 101.3% in July from 175.8% in June, the Zimbabwe Statistics Agency (ZimStat) has said.
After the big jump in June, driven by a sharp Zimdollar drop, July monthly inflation was 89.8 percentage points lower to close in negative territory, -15.3%.
ZimStat uses a blended rate of Zimdollar and US dollar to measure inflation.
However, according to renowned world economic analyst Steve Hanke the country’s inflation is at 175.75% while the year to year is sitting at 594%.
“Even worse, according to my measure, inflation is sitting at a punishing 594%/yr. That’s the highest inflation rate in the world,” he says.
Hanke says Zimbabwe takes 1st place in this week’s Hanke’s Inflation Round up.
He adds that Zimbabwe is experiencing its third episode of hyperinflation in 15 years.
Zwnews
