Zimbabwe’s year on year inflation rate for June stood at 0.31 percent shedding 0.43 percent from May’s rate of 0.75 percent.

According to data from the Zimbabwe National Statistics Agency (Zimstat) made available today, prices as measured by the all items consumer price index increased by an average of 0.31 percentage points between June 2016 and June 2017.

The month on month food and non alcoholic beverages inflation rate stood at minus 0.45 percent in June 2017, shedding 0.52 percentage points on the May 2017 rate of 0.07 percent.

The month on month non-food inflation rate stood at-0.14 percent, shedding 0.15 percentage points on the May 2017 rate of 0.01 percent.

Zimbabwe’s annual inflation rate  broke into the positive  territory  for the first  time in 29 months in March after gaining  0.71 points on the January 2017 rate of minus 0.7 percent to 0.6 percent in February.

The economy entered into deflation in February 2014 when the rate of inflation shed 0.9 percentage points to 0.49 percent as prices continued to decline in line with a strong United States dollar.

The nation’s inflation had remained in the negative territory since October 2014, as the strong US dollar and weak aggregate domestic demand resulted in low prices as traders failed to sustain low demand against limited consumer spending.