Zimbabwe’s annual inflation edged down to 761.02% in August from 837.53% in July, the country’s statistical agency Zimstat said on Tuesday.
The month on month inflation rate was 8.44% from the previous month rate of 35.53%.
On a monthly basis, food and non-alcoholic beverages inflation rate declined to 6.30% from 37.99% in July. Non-food inflation rate stood at 10.03%, shedding 23.73 percentage points on the July rate of 33.76%.
Inflation is one of the key measures of the financial wellbeing of an economy.
Price determination in the economy by businesses was being established on the basis of expectations about the depreciation of the exchange rate and prices that will exist in the future. However, for quite some time prices of basic commodities have been stagnant largely to the stable forex exchange rate.
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