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Harare - Zimbabwe’s annual inflation rate was minus 0.78% in November after shedding 0.78 points on the previous month’s figure, according to official figures released on Monday.
Figures from the Zimbabwe National Statistical Agency show the year-on-year food and non alcoholic beverages inflation, prone to transitory shocks, stood at minus 2.75% while the non-food inflation rate was 0.17%.
The monthly inflation rate in November was minus 0.69% after shedding 0.58 points on the October rate of -0.11%.
Zimbabwe’s negative inflation rate comes in the wake of the continued weakening of the rand against the US dollar, the dominant currency in use in that country.
Zimbabwe imports the bulk of its foodstuffs from South Africa and the weakening rand has meant prices of groceries have continued to decline.
The negative inflation can also be attributed to the fall in aggregate demand as disposable incomes in the country continue to fall amid non-payment of salaries as well as retrenchments.
