Zimbabwe Inflation Rate Accelerates to Over 1-Year High of 47.6%

The annual inflation rate in Zimbabwe soared for the fourth month to 47.6% in February 2024, the highest in over a year, from 34.8% a month before.

The acceleration in overall inflation is largely due to the continued depreciation of the Zimbabwean dollar against the greenback.

The domestic currency has lost almost two-thirds of its value on the official market since the year began.

Monthly, consumer prices rose by 5.4% in February, after a 6.6% increase in the previous month.