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March Inflation Drops by 1.9% – Zimstats

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Zimbabwe’s  month on month inflation rate has dropped by 1.9% in the month of March 2021 from the February 2021 rate of 3.45 percent  the Zimbabwe National Statistics Agency (Zimstat) has revealed.

Zimstat also revealed that year-on-year inflation for the month of March stood at 240.55 per cent from 321.59 per cent.

The CPI for the month-end, March 2021 stood at 2,759.83 compared to 2,698.89 in February 2021 and 810.40 in March 2020.

The year on year inflation rate (annual percentage change) for the month of March 2021 as measured by the all items Consumer Price Index (CPI) stood at 240.55% from 321.59%.

The month on month rate was at 2.26% shedding 1.19 percentage points from 3.45%.

The blended month on month inflation rate in March 2021 was 1.09% gaining 0.38 percentage points on the February 2021 rate of 0.71%.

The blended year on year inflation rate for the month of March 2021 as measured by the all items blended CPI stood at 122.33%.

Commenting on the latest inflation statistics, former Finance Minister Tendai Biti said figures  do not reflect the actual situation on the ground.

In a twitter post Biti said, “The existence of an entrenched multiple exchange regime, a strong parallel market, multi-tier pricing system makes #Zimstats official inflation figures a joke.”

” As long as the auction exchange rate remains rigged & as long multiple economies exist Zim official data is a farce.”

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