CZI cites weak demand, expects inflation easing to 15%

The Zimbabwe Gold (ZiG) annual inflation rate fell sharply to 32,7% in October, a 50-percentage-point drop from September, its lowest level since the statistical agency began reporting annual inflation in local currency in April this year.

THE Confederation of Zimbabwe Industries (CZI) has revealed that October’s 50-percentage-point inflation drop reflects weak demand and statistical effects, projecting annual inflation to ease further to between 15% and 20% by year-end.

According to CZI, the steep decline largely reflected the fading impact of the September 2024 ZiG devaluation, which had inflated last year’s consumer price index (CPI), rather than any fundamental improvement in pricing dynamics.

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