prices 14-11-11.pngZimbabwe’s year on year inflation rate has declined to 4,2% from 4,3% in September this year.

According to data released by the Zimbabwe National Statistics Agency (ZIMSTAT), the drop in inflation means that prices as measured by the all items Consumer Price Index (CPI) increased by an average of 4,2% points between October 2010 and October this year.

The agency revealed that month on month inflation rate in October this year was 0,1%, shedding 0,7% points on the September rate of 0,8%.

The drop in the rate of inflation is a positive signal for the economy following inflationary pressures that had built up in August and September threatening to set back economic targets that inflation will be contained below 4,5% by year end.

The month on month food and non alcoholic beverages inflation stood at 0.08% in October 2011, shedding 0,42% points on the September 2011 rate of 0,5%.

The month on month non food inflation stood at 0.14%, shedding 0.86% points on the September 2011 rate of 1%.