In­fla­tion gains marginally

Chronicle (Zimbabwe) - - Business Chronicle - Oliver Kazunga

THE coun­try’s year-on-year in­fla­tion rate gained 0.10 per­cent­age points in Septem­ber to -1.33 per­cent from an Au­gust rate of -1.43 per­cent, sta­tis­tics from the Zim­babwe Na­tional Sta­tis­tics Agency show.

On month-to-month, the rate of in­fla­tion in Septem­ber gained 0,13 per­cent­age points.

“The year-on-year in­fla­tion rate for the month of Septem­ber 2016 as mea­sured by the all items Con­sumer Price In­dex (CPI) stood at -1.33 per­cent, gain­ing 0.10 per­cent­age points on the Au­gust 2016 rate of -1.43 per­cent.

“This means that prices as mea­sured by the all items CPI de­creased by an av­er­age of -1.33 per­cent­age points be­tween Septem­ber 2015 and Septem­ber 2016,” said Zim­stat.

It said the year-on-year food and non­al­co­holic bev­er­ages in­fla­tion prone to tran­si­tory shocks stood at -2.94 per­cent while the non-food in­fla­tion rate was -0.58 per­cent.

“The month-on-month in­fla­tion rate in Septem­ber 2016 was -0.26 per­cent gain­ing 0.13 per­cent­age points on Au­gust 2016 rate of -0.13 per­cent.

“This means that prices as mea­sured by the all items CPI de­creased at an av­er­age rate of -0.26 per­cent from Au­gust 2016 to Septem­ber 2016,” said the agency.

The lat­est year-on-year in­fla­tion rate shows that de­fla­tion was eas­ing due to an in­crease in the price of ba­sic com­modi­ties.

Zim­babwe slipped into de­fla­tion after the an­nual rate of in­fla­tion for Fe­bru­ary 2014 shed 0,90 per­cent­age points to 0,49 per­cent due to con­tin­u­ing pric­ing fall.

The Con­sumer Coun­cil of Zim­babwe has re­ported that the cost of liv­ing for a low in­come ur­ban earner for Septem­ber rose by $1,91 at­tribut­ing this to a rise in the prices of ba­sic com­modi­ties as well as other prod­ucts by re­tail­ers.

The price in­creases of some com­modi­ties dur­ing the pe­riod un­der re­view has been at­trib­uted to a num­ber of is­sues among them fluc­tu­a­tion of fuel price and the ap­proach­ing fes­tive sea­son.

It has also been noted that su­per­mar­kets have taken ad­van­tage on the use of plas­tic money by in­creas­ing the prices of ba­sic com­modi­ties in small amounts. — @ okazunga MIN­ING con­cern, RioGold, a sub­sidiary of re­sources group RioZim Lim­ited, has ac­quired 100 per­cent stake in Pala­tial Gold In­vest­ments.

Be­fore the ac­qui­si­tion, Pala­tial Gold In­vest­ments was wholly-owned by Fal­con Gold (Fal­gold).

In a joint notice yes­ter­day, RioZim and Fal­gold said:

“The di­rec­tors of RioZim and Fal­gold are pleased to an­nounce to their share­hold­ers and other stake­hold­ers that, fol­low­ing

Makomo Re­sources plans to in­crease its out­put to about 300 000 tonnes per month

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