Zimbabwe’s rate of inflation for October rose to 2,24 percent, reflecting the impact of unjustified price increments for basic commodities in the economy.
Data obtained from the Zimbabwe National Statistics Agency (Zimstat) today indicate that prices increased by 2,24 percent between October last year and October 2017.
The information also shows that the spate of price increases during the month under review had also created inflationary pressures, with an economist Mr Ignatious Matungamire saying a workable policy on price stability is therefore required.
The rise in inflation is also a wake-up call to fiscal and monetary authorities in reviewing the current economic policies to facilitate stable pricing systems, according to another economist, Mr Luxon Zembe.
The central bank is projecting inflation, which refers to the rise in prices over a given period of time, to end the year at two percent.