US economist places Zimbabwean inflation at double digit

Prof Mthuli Ncube and Prof Steve Hanke

Zimbabwe’s annual inflation dropped by 32.2 percentage points in May to settle at 161.9% but month-on-month inflation rose from 1.6% in April to 2.5% in May.

United States economist Steve Hanke who publishes daily inflation figures of more than 40 countries including Zimbabwe says Zimbabwe’s inflation as of yesterday was 86%.

It was 106.7% on 15 May, the day the Zimbabwe National Statistics Agency normally compiles its Zimbabwe figures.

Zimbabwe has vowed to reduce inflation to below 10% by the end of the year with monthly inflation around 1%.

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