ZIMSTAT publishes USD and ZiG inflation rates for May 2024

The Zimbabwe National Statistics Agency (ZIMSTAT) reported that Zimbabwe’s year-on-year inflation increased by 3.5% in US dollar terms in May.

Converted into USD, month-on-month inflation was 0.1%, which means a decrease of 0.7 percentage points compared to April.

ZIMSTAT currently reports three separate sets of inflation data, as it states: newZWire. It currently measures price increases separately in USD, in ZiG, as well as price increases in combination with USD and local currency.

In the case of ZiG, inflation in May 2024 was -2.4%. This is the rate at which ZiG prices changed from April, when ZiG launched, to May.

Annual ZiG inflation will not be measured until April 2025, when ZIMSTAT will be able to compare April 2024 data to obtain the annual ZiG inflation figure.

The weighted monthly inflation rate, which measures the combined price changes in ZiG and USD, was -0.6% in May.

According to ZIMSTAT, May inflation in USD was mainly influenced by the prices of food and non-alcoholic beverages, followed by furniture and equipment.

Transport costs had the largest share in weighted monthly inflation in May.

In May, a person needed ZiG401.36 to be above the food poverty line (FPL), a measure of the amount of food needed for basic nutrition.

The total consumption poverty line (TCPL), or the amount a person must earn to afford basic things and not be considered poor, was ZiG624.44.

More: News from Pindula

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ZIMSTAT publishes USD and ZiG inflation rates for May 2024

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