Zim inflation hits record 7 982%

HARARE – Zimbabwe’s inflation rate rose to a new record of 7 982,1 per cent year-on-year in September, from 6 592,8 per cent in August, driven by non-food items, the Central Statistical Office (CSO) said yesterday.

The month-on-month inflation rate climbed 38,7 per cent in September, the CSO said. Zimbabwe’s inflation figure remains the world’s highest rate despite a controversial price freeze imposed in June by President Robert Mugabe in a bid to stem runaway price increases.The CSO said non-food inflation drove inflation higher in September, while food inflation was marginally lower.It said rising water, housing, electricity, transport and health costs were behind the latest price rises.”Year-on-year food and non-alcoholic beverages inflation stood at 7 759 per cent, 149,1 percentage points down from the August 2007 figure of 7 908,1 per cent, while non-food inflation was 8 096,7 per cent …from the August figure of 5 983,9 per cent,” the CSO said.Nampa-ReutersZimbabwe’s inflation figure remains the world’s highest rate despite a controversial price freeze imposed in June by President Robert Mugabe in a bid to stem runaway price increases.The CSO said non-food inflation drove inflation higher in September, while food inflation was marginally lower.It said rising water, housing, electricity, transport and health costs were behind the latest price rises.”Year-on-year food and non-alcoholic beverages inflation stood at 7 759 per cent, 149,1 percentage points down from the August 2007 figure of 7 908,1 per cent, while non-food inflation was 8 096,7 per cent …from the August figure of 5 983,9 per cent,” the CSO said.Nampa-Reuters