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February inflation rises to 2.98: ZIMSTAT

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Harare, March 20, 2013 – ZIMSTAT says February annual inflation increased 0.47 percentage points to 2.98% on the January rate of 2.51% after upward pressure on food and transport.

Domestic price pressures, which have were largely muted last year have started to inch up following the recent increase in fuel prices. The year on year Food and Non-Alcoholic beverages stood at 7.58% whilst the Non-food inflation rate was at 0.91%.

The month on month inflation rate was at 0.95% gaining 0.08 percentage points.  The month on month Food and Non Alcoholic Beverages inflation stood at 1.40 percent gaining 1.08 percentage points on January of 0.32%. The month on month non-flood inflation stood at 0.72% gaining 0.78 percentage points on the January rate of -0.06 percent.

The Consumer Price Index (CPI) for the month ending February stood at 101.0 compared to 100.1 in January 2013.

The CPI was changed in January with the creation of a new classification which came up with 83 classes compared to 68 in the old calculation. ZNCC

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