Zimbabwe annual inflation hit 175.66 per cent in June up from 97.85 per cent in May, statistics agency ZIMSTATS said on Monday, the highest rate since 2009.said on a month-on-month basis, the consumer price index rose 39.26 per cent in June compared to 12.54 per cent in May, nearing the monthly 50 per cent figure that would mark the start of hyperinflation.
The high inflation is piling pressure on a population struggling with shortages and stirring memories of economic chaos a decade ago.’s bid to revitalise an economy that suffered decades of decline and bouts of financial chaos under veteran leader Robert Mugabe’s near four-decade rule. The new sole tender has tumbled 27.9 per cent since then, lingering at 8.77 against the dollar in official exchanges on Monday.
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