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*Zimbabwe's Monthly Inflation Drops To  Minus 15 Percent - ZIMSTAT*

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Zimbabwe’s annual inflation slowed to 101.3% in July 2023 from 175.8% in June 2023, the latest data from the Zimbabwe National Statistics Agency (ZIMSTAT) shows.

ZIMSTAT also said the month-on-month inflation for July was 89.8 percentage points lower to close in negative territory, -15.3% from 74.5% recorded in June.

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ZIMSTAT measures inflation using a weighted average of items priced in Zimbabwean dollars and United States dollars.

In May 2023, ZIMSTAT said the country’s month-on-month inflation rose to 15.7% after gaining 13.3 percentage points on the April 2023 rate of 2.4%.

The year-on-year inflation rose to 86.5% in May from 75.6% in April, said ZIMSTAT.

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