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Harare - Zimbabwe’s inflation rate fell below the 1% mark in
September, as demand continued to wane on tight liquidity conditions.
Weakening demand was evident too in numbers released on Wednesday
by SABMiller-owned Delta beverages.
In a trading update released on Wednesday morning, Delta pointed out
that consumer demand has remained generally soft since the beginning of the
calendar year.
The group said lager beer volumes for the quarter to September 30 2013 had declined and were down 12% on the same period prior year.
Zimbabwe's latest inflation figures reflect the slowdown in consumer spend which has occurred over the past few months.
According to figures from Zimbabwe’s Statistical Office
(Zimstats), annual inflation for September shed 0.42 percentage points to
0.86% against the August rate of 1.28%, as consumer spending worsened.
Year-on-year food inflation stood at -0.32%, while non-food
was at 1.45%.
Rising levels of indebtedness and pressure on disposable incomes have also continued to put consumers under significant pressure.
- Fin24
