prices.jpgThe year on year inflation rate has surged to 4.2% for the month of November 2010, gaining 0.6 percentage points on the October rate of 3.6%.

 

The surging of the year on year inflation rate as measured by the Consumer Price Index (CPI), means that prices increased by an average of 4.2% between November 2009 and November 2010.

 

The slight upward adjustment in the prices of food and non-alcoholic beverages by local retailers during the month of November contributed to the surge in inflation.

 

The 4.2% level is however within government’s target of 4.1% inflation rate by year end.

 

Meanwhile the month on month inflation rate for November 2010 was 0.5% percent, gaining 0.3% on the October 2010 rate of 0.2%.

 

Since the adoption of the multi currency regime in February 2009 by Cde PatrickChinamasa, who was then Acting Minister of Finance, the country has witnessed a significant reduction in the inflationary pressures, giving the local industry a favourable operating environment.