“However, the downside risks to growth have intensified since the last meeting, and markets are pricing in another rate cut..”
Zimbabwe’s Inflation Rises to Record 66,212%
by Brian Latham
(Bloomberg) Zimbabwe’s annual inflation more than doubled to 66,212 percent in December, the Central Statistical Office said in a document released to local banks.
The December figure “was an increase of 39,741 percentage points on the November rate of 26,470 percent,” the office said in the document released in the capital, Harare, this week.
Food and non-alcoholic beverages rose 79,412 percent in December, while non-food inflation was 58,492 percent, the office said.
Zimbabwe has the world’s highest rate of inflation and the world’s fastest-shrinking peace-time economy, according to the World Bank. The International Monetary Fund estimated inflation reached 150,000 percent in January, the Zimbabwe Independent reported, citing a document that hasn’t been officially released by the lender.