Zimbabwe inflation slows down to 761.02 percent

JOHANNESBURG (Reuters) – Zimbabwe’s consumer price inflation slowed to 761.02% year-on-year in August compared to 837.53% the previous month, the statistics agency said on Tuesday.

On a monthly basis, prices increased by 8.44% compared to 35.53% in July.

The ministry of finance has targeted annual inflation at 300% by the end of this year but analysts say a weakening Zimbabwe dollar currency and imports of the staple maize after successive poor harvests will keep prices elevated.