Zimbabwe Hits Single-Digit Inflation Milestone

Zimbabwe has recorded single-digit inflation in its domestic currency for the first time in almost 30 years according to official figures released by the government. Data shows year-on-year inflation in the Zimbabwe Gold (ZiG) currency fell to 4.1% in January 2026 while inflation measured in United States dollars declined to 1%—a development authorities say signals a turning point in the country’s long-troubled economic story. In a statement, Finance Minister Prof.

Mthuli Ncube described the figures as “a critical milestone towards durable macroeconomic stability, critical for sustainable economic growth and the achievement of Vision 2030, towards a prosperous and empowered upper middle-income society.” “The implementation of prudent fiscal policy over the past few years, and complementary monetary policy since the introduction of ZiG in April 2024, has resulted in macroeconomic stability,” he said Prof. Ncube said the ZiG currency is backed by both gold and foreign currency reserves, with reserve money and broad money said to be fully covered. He added that prices of basic consumer goods have remained largely unchanged over the past year.

“The price of most consumer goods such as bread, mealie meal, detergents, beef, tea, milk, lotions and other essentials has barely changed during the past twelve months,” Prof. Ncube said.