Inflation down 0,34%

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YEAR-ON-YEAR inflation for the month of September stood at -3,11%, shedding a 0,34% point on August 2015 rate of -2,77% as deflationary pressures persist.


This means prices as measured by all-items Consumer Price Index (CPI) decreased by an average of -3,11% between September 2014 and September 2015, statistical agency Zimstat said on Friday.


For the first six months of the year to June, inflation figures were negative reaching -2,8% at the end of June, while monthly figures gained 0,05 points to record 0,14% from the May rate of 0,19%.

During the period under review, major price reductions were noted in food and non-alcoholic beverages, clothing and footwear, housing, water, electricity, gas and other fuels, communication, recreation and culture, restaurants and hotels, and miscellaneous goods and services.

The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.

The year-on-year food and non-alcoholic beverages inflation prone to transitory shocks stood at 3,72% whilst the non-food inflation rate was -2,83%.

“Month-on-month inflation rate in September 2015 was -0,36% shedding 0,05% points on the August 2015 rate of -0,31%. This means that prices as measured by the all-items CPI decreased at an average rate of -0,31% from August 2015 to September 2015,” Zimstat said.

“The month-on-month food and non-alcoholic beverages inflation rate stood at -0,47% in September 2015, gaining 0,28 percentage points on the August 2015 rate of -0,75 percent. The month-on-month non-food inflation rate stood at -0,31%, shedding 0,21 percentage points on the August 2015 rate of -0,10%.”