Zimbabwe’s monthly inflation at minus 6.2 percent in August

By Xinhua

HARARE: Zimbabwe’s inflation remains in the negative margin at minus 6.2 percent in August, up by 9.1 percentage points from the previous month, the Zimbabwe National Statistics Agency (ZIMSTAT) said Monday.

As exchange rate volatility between April and June resulted in soaring prices of basic commodities, the Zimbabwean government implemented various policy measures to stabilize the exchange rate, including hiking interest rates and liberalizing the foreign exchange market.

In the Mid-term Monetary Policy early this month, Reserve Bank of Zimbabwe Governor John Mangudya said the central bank will maintain the current tight monetary policy stance for the remaining six months this year to keep inflation down and maintain exchange rate stability.