Public Management

Zimbabwe: Inflation reaches 175.66% in June 2019, highest level in 10 yrs

Zimbabwe: Inflation reaches 175.66% in June 2019, highest level in 10 yrs
Monday, 15 July 2019 15:33

Inflation in Zimbabwe soared at 175.66% at the end of June this year, the highest rate in 10 years, local media revealed.

The previous month, the rate was 97.9% and was already regarded as a threat. Observers fear a situation like the hyperinflation period that put the country in a crisis whose effects continue to be felt on the economy.

This further increase in inflation comes less than three years after the end of a period of deflation that had led to a general decline in prices in the southern African country. According to statistics, prices of food, clothing, furniture and health care all increased by more than 200% in June compared to the previous year.

A few weeks earlier, the authorities had announced that RTGS, the intermediate currency, would now be the only legal tender in the country. This decision, which led to the suspension of the US dollar, adopted in 2008 to counter hyperinflation, should lead to the reintroduction of the Zimbabwean dollar by the end of the year.

With the reintroduction of the local currency, this will cause pressure as there is no production. You don't introduce more currency when there is no production because that on its own causes inflation. We are now in hyperinflation technically.” Prosper Chitambara, a senior economist at the Labor and Economic Research Institute in Harare, told Bloomberg. According to the expert, annual inflation could eventually be between 200% and 300%.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Amethis enters active deployment of its €406m Africa fund, applying strict deal screening to balance financial returns with measurable...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring Ladder Microfinance Bank licence Move expands...
EIB Global invested $80 million in RMBV North Africa III, becoming the fund’s anchor investor The fund targets more than $300 million in...
Standard Chartered to sell all Botswana operations, exit market entirely Sale plan expanded after buyers sought full business, not partial...
Most Read
01

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
02

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
03

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
04

Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...

Ivory Coast Awaits New Cabinet After Post-Election Resignations
05

African startups raised about $3.1 billion in 2025, up from $2.2 billion in 2024, accord...

Venture Capital: African Startups Raised $3.1 Billion in 2025, Launch Base Africa Says
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.