This means that prices as measured by the all items CPI increased by increased by an average of 2,99 percentage points between November 2011 and November 2012.
According to figures released by Zimstat today the country’s inflation now stand at 2,9 percent.
Finance Minister Tendai Biti said government intends to achieve an inflation target of 5 percent by the end of this year a figure which analysts said was achievable this year
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 3,85 percent whilst non-food inflation stood at 2,61 percent,” Zimstat.
The month on month inflation rate in November 2012 was 0,13 percent points on the October 2012 rate of 0,26 percent.
This means that prices as measured by the all items CPI increased at average of 0.13 percent from October 2012 to November 2012.
The month on month 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 previous month in the current year.
The month on month food and non alcoholic beverages inflation stood at 0,18 percent in November 2012 rate of 0,46 percent, shedding 0,006 percent points on the October 2012 rate of 0,17 percent.
CPI for the month ending November 2012 stood at 102,77 compared to 102,63 in October 2012 and 99,78 in November 2011.
The direction of inflation decline is sustainable and should continue to trend downwards.
Post published in: Business