The Finance Minister Mthuli Ncube, the Finance Minister has been on record multiple times claiming that prices will start to go down soon. However, so far in the real world there has been no evidence whatsoever that this is going to become reality anytime soon. In fact the inflation rate keeps going up with the rate of annual being 552% in December 2019.
Experts seem to agree with this assessment and have warned the public to brace for more price increases over the next coming months.
This is going to push price hikes, as that is what inflation is all about. The government should deal with the black market activity and also ensure that all imports are paid for at the interbank rate to stabilise the situationJohn Roberston speaking to the Daily News
We are facing exchange rate-induced inflation. It will not take us much more time to be in a situation similar to 2008. As a result, the economy is, unsurprisingly, re-dollarising on its own … and the market will continue to reject the Zimbabwe dollar as a medium of exchangeGift Mugano, an Economist
Short-term drivers of inflation
In the short term, prices will continue to rise driven mainly by forex shortages which will, in turn, increase the cost of doing business. Electricity and fuel shortages/hikes are all going to ensure sustained price increases. The current drought will just be fuel to an already raging fire.