2024 Zimbabwe's first-half annual inflation rate hits 538%, over double 2023's rate.

Old Mutual Limited reported Zimbabwe's annual inflation rate at 538% for the first half of 2024, more than double that of 2023. This spike follows the cessation of official inflation reporting after the April introduction of the Zimbabwe Gold (ZiG) currency. Due to hyperinflation and challenges in capital access, Old Mutual continues to exclude its Zimbabwe operations from adjusted headline earnings. The Zimbabwe Stock Exchange yielded a 459% return during this period.

September 27, 2024
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