BY MTHANDAZO NYONI ZIMBABWE’S annual inflation has raced to 256,9%, from 191,6% recorded in June, official data shows.
Latest data from the Zimbabwe National Statistics Agency (Zimstat) indicates that a single individual now needs $23, 479 per month to afford basics.
“The month-on-month inflation rate in July 2022 was 25,6% shedding 2,1% percentage points on the June 2022 rate of 30,7%,” Zimstat said.
“The year-on-year inflation rate (annual percentage change) for the month of July 2022 as measured by the all items Consumer Price Index (CPI) stood at 256,9%.”
These figures also mean that the cost of living for a family of six has shot up to $140,874, up from $110 550 recorded last month.
The developments come at a time salaries of the majority of workers in the public and private sector have not kept pace with the inflationary changes.
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Most basic commodities are now sold in foreign currency.
But government insists there is no going back on dollarisation.