Zimbabwe’s monthly inflation slowed down in December, closing the year at 16.55 percent from 17.46 percent the previous month, according to data released by the national statistical agency on Wednesday.
“This means that prices as measured by the all items CPI (Consumer Price Index) increased by an average of 16.55 percent from November 2019 to December 2019,” the Zimbabwe National Statistics Agency (Zimstat) said.
Government has forecast month-on-month inflation to fall to single digit levels in the first quarter of this year, after peaking to 38.75 percent in October last year.
Zimbabwe has been experiencing inflationary pressures amid shortages of cash, foreign currency, fuel and electricity.
The government, however, has said it will in 2020 prioritize stabilizing the Zimbabwe dollar to rein in inflation and spur economic growth. (Xinhua)