Zimbabwe's annual inflation rate reached a 7-month high of 55.3%, driven by food and utility costs.

Zimbabwe's annual inflation rate surged to a seven-month high of 55.3%, up from 47.6% in February. Finance Minister Mthuli Ncube has acknowledged the ongoing price instability and stated that monetary policymakers are preparing a statement to address the challenges. The Zimbabwe National Statistics Agency attributed the inflation increase to rising food and utility costs, including housing.

March 27, 2024
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