Zimbabwe’s July y/y inflation at 837.5%

PUBLISHED: Sat, 15 Aug 2020 15:37:30 GMT

HARARE (Reuters) – Zimbabwe’s inflation was 837.53% year-on-year in July compared to 737.26% the previous month, state statistics body Zimstat said on Saturday.

On a monthly basis, prices increased by 35.53% compared to 31.66% in June.

Zimstat did not give a reason for the increase but the local currency, which was reintroduced in June last year without sufficient reserves to back it, has been relentlessly depreciating against the U.S. dollar.

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