JANUARY MONTHLY INFLATION RATE DECLINES

The month on month inflation rate in January 2020 was 2.23 percent shedding 14.32 percentage points on the December 2019 rate of 16.55 percent. This means that prices as measured by the all items CPI increased by an average rate of 2.23 percent from December 2019 to January 2020.

The month-on-month inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the previous month in the current year.

The month on month Food and Non Alcoholic Beverages inflation rate stood at 2.55 percent in January 2020, shedding 13.20 percentage points on the December 2019 rate of 15.75 percent. The month on month non-food inflation rate stood at 1.99 percent, shedding 15.15 percentage points on the December 2019 rate of 17.14 percent. The month on month inflation rate in January 2020 was 2.23 percent shedding 14.32 percentage points on the December 2019 rate of 16.55 percent. 

This means that prices as measured by the all items CPI increased by an average rate of 2.23 percent from December 2019 to January 2020.The month-on-month inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the previous month in the current year.

The month on month Food and Non Alcoholic Beverages inflation rate stood at 2.55 percent in January 2020, shedding 13.20 percentage points on the December 2019 rate of 15.75 percent. The month on month non-food inflation rate stood at 1.99 percent, shedding 15.15 percentage points on the December 2019 rate of 17.14 percent

The implementation of the COICOP classification is also part of the harmonisation project of Consumer Price Indices in different regions like the SADC region. All member states are supposed to adopt the new procedure to enable inter country comparisons of the CPI and the rate of inflation. The new weights are therefore applicable from February 2019 onwards.

Mean Month on Month Rates

The annual average month on month inflation rate for 2019 was 17.0 percent while the month on month for January 2020 was 2.23.

Table 1: Month on month inflation rate from March 2019 to January 2020

Months

Mar-19

Apr-19

May-19

Jun-19

Jul-19

Aug-19

Sep-19

Oct-19

Nov-19

Dec-19

Jan-20

Month on month inflation rate

4.4

5.5

12.5

39.3

21.0

18.1

17.7

38.8

17.5

16.6

2.2

  

Zimbabwe National Statistical Agency