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Zimbabwe’s Annual Inflation Slows In December 2022 - ZIMSTAT

Zimbabwe’s Annual Inflation Slows In December 2022 - ZIMSTAT

Zimbabwe’s annual inflation slowed to 243,8% in December from 255% in November, the Standard reported citing a report issued by the Zimbabwe National Statistics Agency (ZIMSTAT) on Wednesday.

According to the report, month-on-month inflation for the month was 2.4%, higher than November’s 1.8%.

The statistics also showed an individual in the country now needs ZW$22 193 per month to afford basic needs. The report read:

Total Consumption Poverty Line for one person stood at $29 219 in December 2022.

Month-on-month inflation peaked this year at 30.7% in June.

The consumer price index (CPI) for December 2022 stood at 13 672 91 compared to 13 349 42 in November 2022.

Economist Prosper Chitambara said inflation had slowed down, but prices were still shooting up. He told NewsDay:

Two hundred and forty-three percent is still the highest inflation rate in the world and it creates a lot of challenges for the economy and consumers. The fact that it has slowed down does not mean that prices are going down. Our pricing is still on the very high side — look at fuel, bread and so on, they are still going up. As long as prices continue to increase, then it even makes it more difficult for the ordinary person to survive.

Secondly, when we look at our inflation figures, some scholars have argued that they don’t reflect the full extent of price developments in an economy that is now highly informal. So our official figures tend to understate the challenges with respect to price increases because they are based on a small formal segment whereas the economy has now been informalised to a greater extent.

Some analysts believe the increase in month-on-month can be attributed to Christmas spending and the bonuses that were paid by various companies to their employees which increased aggregate demand.

Finance minister Mthuli Ncube has targeted to contain monthly inflation below 3% in 2023.

On trade statistics for November 2022, ZIMSTAT said the total value of exports increased from US$498.5 million in October 2022 to US$671.3 million in November 2022.

Imports increased from US$758.8 million in October to US$797.9 million in November 2022.

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18 Comments

Destro 4 weeks ago

Matiregerera pabhora guyz .update yo tables, results..ko makatsamweiko


Ali Tinasheba albamohamed 4 weeks ago

Akawanda anobhohwa kutyper bvunza by team hama yangu

Vesto 4 weeks ago

Chenjera vamwe vano rigger maresults ebhora

Fürher 4 weeks ago

Only the mighty Zanu pf can fix this country brick by brick stone upon stone. We do not need daydreaming Twitter president who talks of spaghetti roads yet he is failing to collect bins or providing safe drinking water.


Ali Tinasheba albamohamed 4 weeks ago

Kkkk

4 weeks ago

@Fűrher chii chinoitwa fix ne zanu pf ichocho? either hauna kukwana upstairs or u are a serious bootlicker or both. Hapana progress munyika ysmboitika munyika muno progress tichida kuzvirerutsa last happended maybe btwn 1980-1990 pamwe pese apa its downhill, takungoona migodhi mumad****bha, ma sewage ma generator achirira pakati pe twn and u say zanu pf is fixing this country my foot. Get your head examined

Fürher 4 weeks ago

Why is it that the CCC runs the most corrupt and inefficient council's for example HCC has gone to the dogs ever since it was in opposition hands, tell me what initiative that the opposition has done ever since for the progress of the ordinary so called citizen?

jonso 4 weeks ago

it's sabotage we know it. the local councils have not failed

Fixer🚮 4 weeks ago

Fix the country demolished by who? Fix it now since u ar in power

4 weeks ago

This anus bootlicker is full of rotten diarrhea. ZANUPF has dismantled this countries economy brick by brick causing untold suffering to the population and continues to do so.
They need to be replaced by intelligent leadership.

4 weeks ago

Even between the 1980's and 1990's you are talking about @no name there was no development They were looting and destroying what had been left by the Smith regime Zupco NRZ Air Zimbabwe Zisco Steel the list is endless Even the Urban councils which they now claim to have been run down by CCC where destroyed by Zanu Pf Remember when rates amounting to billions of dollars were written off by Chombo and company as a campaign gimmick Urban councils never recovered from that setback

Führer 4 weeks ago

What is so intelligent about the opposition who's own leadership was left with egg on the face as their own vice president a well known government critic went silent when he was given $40000 which his president refused. How can you call that intelligent leadership when you can't control your own party members? Chamisa just wants power for the sake of it otherwise what to do with it dololo.

o'brien 4 weeks ago

@furher uri saga. Don't compare nyika neCity council kkk unotinyadzisa. All councils are controlled by mkoma July Moyo veZanu that's why tender ye Pamona yakanetsa. Iwe dhongi. The HC mayor stood strong against corruption in the name of Pamona deal. Do you think HCC controls the minerals, inflation, corruption and ZIMRA scandals. kkkk wake up and talk sense. Panotaurwa nyaya dzema oceans don't mention mugodhi wambuya vako iwe do4. HCC is nothing other than supplying water, stands and collecting gabbage within harare that is the if respective ministries have been allocated enough budget by Mutuli Ncube. Think first baba.

Führer 4 weeks ago

H.C mayor and his ccc goons bought land for .10c per square meter your party is the most corrupt in Zim history.

o'brien 4 weeks ago

Don't follow rumours kkk. If it is true, records don't lie ndavasungwe ka. Wadyajena akaba millions jus to buy lamborghini and trucks. Obidiah Moyo rega ndimusiye coz u already know. Ko Scott urikumuziva here? Ok ko henrietta rushwaya wakambomunzwa here pa airport? Iwe wakuuya pano kutaura zvezvima stands nema bin emarara aJuly Moyo futi. Inflation at 243% is a worst yet tikutonzwa kuti it fell down from 255% kkkkk wake up boy. We need youths who analyse a situation as it is without judging city councils and CCC. ZANU is ruling and inflation is at 243% furu stop.

Führer 4 weeks ago

All those you mentioned have cases to answer which are before the the courts and Justice is taking its course.

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apa_hauna_Data 4 weeks ago

all these comments by @Furher anoto bhadharwa to be on this platform and comment chete saa tisaite pressure naye ari kuita basa rake... 2023 CCC



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