TAURAI MANGUDHLA
Zimbabwe’s year on year inflation rate quadrupled to close the month of October 2018 at 20,85 percent, compared to 5,39 percent the previous month as foreign currency pressures take a toll on the economy.
The inflation rate gained 15,46 percentage points on the September 2018 rate of 5,39 percent, raising fears the country could be creeping back into hyper inflation.
This means that prices as measured by the all items CPI, increased by an average of 20,85 percent between October 2017 and October 2018.
The year on year Food and Non Alcoholic beverages inflation, prone to transitory shocks, stood at 26,78 percent whilst the Non-food inflation rate was 18,06 percent.
