BUSINESS REPORTER
Zimbabwe’s annual inflation rate decreased to 77.2% in August from 101.3% in July as the results of stringent fiscal and monetary measures take hold, ZIMSTAT director general, Taguma said Monday.
The month-on-month inflation rate for August 2023 was -6.2%, gaining 9.1 percentage points on the July 2023 rate of -15.3%.
The term inflation refers to the rate at which prices are rising. However, a decline in inflation does not imply that prices are falling but rather that price adjustments are proceeding slowly.
