Despite all claims by our esteemed leaders that things are getting better the annual inflation rate keeps climbing. For the month of March 2020 the inflation rate was 676.39% compared to 540.16% in February. That is a rise of more than 130%.
The month on month inflation rate in March was 26.59% gaining 13.07 percentage points on the February rate of 13.52%
The year on year Inflation rate (annual percentage change) for the month of March 2020 as measured by all items CPI stood at 676.39 per cent.
The CPI for the month ending March 2020 stood at 810.40 compared to 640.16 in February 2020 and 104.38 in March 2019.ZIMSTAT On Twitter
That is hardly surprising
That the inflation rate is still climbing is hardly surprising given the constant price increases we and the rest of Zimbabwe has to endure on a daily basis. Even when prices of items such as oil fall steeply on the global market Zimbabweans still have to pay more.
For the month of April expect an even steeper inflation rate driven by spiralling food inflation due to the disruption of domestic and global food supply chains as a result of widespread lockdowns introduced in a bid to counter the spread of Covid-19