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*Zimbabwe’s Annual Inflation Rose To 47.6% In February*

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Zimbabwe’s February 2024 year-on-year inflation as measured by the all-items Consumer Price Index (CPI), rose to 47.6%, the Zimbabwe National Statistics Agency (ZIMSTAT) reported on Thursday.

As reported by NewZimbabwe.com, the latest increase is the fourth in a row since the statistics agency changed its price measure on 28 September to better reflect the use of US dollars in the economy.

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The greenback now dominates domestic transactions, with about 80% of all transactions in the country in US dollars.

In contrast, the month-on-month inflation rate fell to 5.4% in February 2024, shedding 1.2% on the January 2024 rate of 6.6%.

This means that prices increased by an average of 5.4% between January 2024 and February 2024.

This comes after manufacturers continue to increase prices which they blame on the introduction of new taxes and rising costs of electricity.

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