Zim inflation shoots up again - before massive fuel hike | Fin24
 
  • Trump and Tariffs

    Face-to-face trade meetings with China on the horizon.

  • Peter Moyo

    What is next for Old Mutual and its on-and off-again CEO Peter Moyo as legal manoeuverings continue?

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Zim inflation shoots up again - before massive fuel hike

Jan 18 2019 10:53
Crecey Kuyedzwa, Harare

Zimbabwe's inflation rate is shooting up again, reaching 42% year-on-year in December. This was before the recent massive fuel price hikes which resulted in an ongoing national shutdown and days of protests. 

The year-on-year inflation rate for the month of December 2018, as measured by the all items Consumer Price Index, stood at 42.09%, according to Zimbabwe National Statistics. 

This is 11 percentage points higher than the annual November rate of 31%.

And inflation figures are likely to spiral again, following the fuel price increases announced by President Emmerson Mnangagwa.

Over the weekend, the Zimbabwean government boosted the pump price of petrol to $3.11 a litre, from $1.34 previously. According to globalpetrolprices.com, Zimbabwe's petrol price is now the most expensive in the world. The next most expensive country for motorists is Hong Kong, were a litre of petrol costs $2.06. As a result of the increase, transport fares have already tripled.

The government has cracked down on the protests, restricting access to social media and arresting prominent activist and pastor Evan Mawarire. 

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote

Loading...