Month-on-month inflation reached its peak in June 2022 at 30,7%.
Since then, it has been gradually declining.
In November 2022, month-on-month inflation was recorded at 1,8% shedding 1,4 percentage points on the October rate of 3,2%.
This generally shows that month-on-month inflation is now under control.
At 1,8%, the month-on-month inflation rate for Zimbabwe is the second lowest since the adoption of the local currency in 2020, only coming out second to a rate of 1,6% recorded in April 2021.
The continuous decline of month-on-moth inflation to a single digit in the past three months entails relative price stability in the economy.
The 2023 national budget set a month-on-month inflation target range of between 1% to 3%, hence there is little room for deviation from the current trend if the target is to be achieved.
Maintaining…
