The latest numbers from ZIMSTAT shows that inflation went up in Zimbabwe during the month of October. Month on month inflation was 6.40% compared to 4.73% in September. This was driven mainly by food inflation which went up to 7.56% from 4.82% in September.
Things were no different in the annual inflation arena. In the month of October yearly inflation went up to 54.49% up from 51.55%. Things are not going to be rosy either as the IMF has forecasted that Zimbabwe will have yearly inflation of about 92.5% when the current year ends.
Incoherent policies undermining Zimbabwe’s recovery
Most economists have blamed the government which is accused of incoherent policies. Chief among them is their exchange rate policies that seek to impose the so-called official rate on every business regardless of how they get capital. This has resulted in chaos in the business world and some businesses have resorted to charging steep prices in ZWL in order to avoid losses thus driving up inflation.