03-17-17 by Spotlight Zimbabwe

Inflation Is Back in Zimbabwe After 2 1/2-Year Hiatus


Consumer prices in Zimbabwe rose on an annual basis for the first time since September 2014 last month. The 0.1 percent increase was partly due to a 1.3 percent advance in prices of food and non-alcoholic beverages, which account for a third of the basket. The southern African nation, where hyperinflation peaked at 500 billion percent at the end of 2008, abandoned its own currency and uses of a basket of foreign exchange including the South African rand, the dollar, the euro and the pound, as well as so-called bond notes printed by the government.

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