Zimbabwe's Monthly Inflation Slows To 3.7% In December, Down From 11.7%
Zimbabwe’s monthly inflation slowed to 3.7 per cent in December 2024, down from 11.7 per cent recorded the previous month, according to data released by the Zimbabwe National Statistics Agency (ZIMSTAT) on Friday.
According to ZIMSTAT, inflation showed a downward trend in November and December, from a peak of 37.2 per cent in October.
This change is attributed to the stability of prices and the local currency, the Zimbabwe Gold (ZiG), following a 43 per cent devaluation by the central bank in September.
In USD, annual inflation was 2.5 per cent in December, down from 3.3 per cent in November.
Presenting the 2025 national budget to Parliament in November, Finance Minister Mthuli Ncube said he expects ZiG month-on-month inflation to remain stable and average below 3 per cent next year, supported by tight fiscal and monetary policies.
He added that the 2025 fiscal plan is based on single-digit inflation and a stable exchange rate to foster a favourable business environment. Said Ncube:
Any deviation from these assumptions, including the widening of the premium between the official and parallel markets, will severely impact macroeconomic stability.
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