Inflation falls to 3.2%

BUSINESS REPORTER

Zimbabwe’s annual inflation rate in the local Zimbabwe Gold (ZiG) currency eased to 3.2% in July, down from 4.7% recorded in June, the Business Times can report.

Data released on Monday by the Zimbabwe National Statistics Agency (ZIMSTAT) also showed that month-on-month ZiG inflation slowed to 0.1% in July from 0.6% in June, signalling continued price stability in the local currency.

However, month-on-month inflation measured in U.S. dollars edged up to 0.3% in July from 0.1% in June, while annual U.S. dollar inflation remained unchanged at 3.1%.

ZIMSTAT said the main contributors to inflation during the month were housing, water, electricity, gas and other fuels.

Monetary authorities remain confident that inflation will stay within single digits throughout 2026, supported by a tight monetary and fiscal policy stance.
This is despite inflationary pressures experienced in recent months, largely driven by rising fuel and food prices.