New information published by ZIMSTAT shows that Zimbabwe’s annual inflation rate dropped from 785.55% in May to 737.26% in June. That is a drop of almost 50 points. Now before you go out and start celebrating you should also know that during the same period the month on month inflation rose to 31.66% up from 16.53% in May. All these figures simply mean one thing: Prices are still increasing.
The month on month inflation rate in June was 31.66% gaining 16.53 percentage points on the May 2020 rate of 15.23%
The year on year inflation rate (annual percentage change) for the month of June 2020 as measured by all items stood at 737.26%.
The CPI for the month ending June 2020 stood at 1,445.21 compared to 1,097.65 in May 2020 and 172.61 in June 2019.
The month on month inflation rate in June 2020 was 29.44% gaining 15.91 percentage points on the May rate of 13.53%
The year on year inflation rate (annual percentage change) for the month of June 2020 as measured by all items (blended CPI) stood at 457.19%.
The blended CPI for the month ending June 2020 stood at 557.19 compared to 430.45 in May 2020 and 100.00 in June 2019.ZIMSTAT’s statement on inflation on Twitter
Incomes left in the dust
While businesses and even the government are quick to raise prices in response to inflation various worker’s unions have complained that the employers are not quick to do the same when it comes to wages and salaries that are way behind of inflation. This has resulted in various workers dropping down tools citing “incapacitation”. Currently nurses and various health workers are engaged in industrial action over this issue.
However a lot of workers from both the private and public sector have often raised this complaint. A lot of workers have also demanded that their salaries be tied to the ever rising inflation rate but employers have resisted this call.