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Last updated at: (Beijing Time) Monday, September 16, 2002

Inflation Reaches 135.1 Percent in Zimbabwe

The rate of inflation in Zimbabwe gained 11.6 percentage points last month to reach 135.1 percent onthe back of continued price increases, according to the Herald on Monday.


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The rate of inflation in Zimbabwe gained 11.6 percentage points last month to reach 135.1 percent onthe back of continued price increases, according to the Herald on Monday.

The new rate of inflation surged forward because of increases in the price of meat, clothing, confectionery and beverages.

Analysts said the increase in the rate of inflation was not surprising. The prevalence of drought throughout Zimbabwe has created food shortages. The prices of most products that are in short supply have therefore, gone up quite significantly.

Wage increases awarded recently and the continued weakening of the local currency have also put pressure on inflation.

Of the 135.1 percent inflation rate for August, increases in food prices accounted for 44.1 percentage points.

Food inflation prone to transitory shocks stood at 125.5 percent gaining 18.6 percentage points on the July rate of 131.9 percent.

Non-food inflation gained 8.1 percentage points to 14 percent on the July rate.

The year on year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.


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