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Zimbabwe’s local currency inflation at over 85% y/y in April - REUTERS
BY Tannur Anders
April 25 (Reuters) – Zimbabwe’s annual inflation rate was at 85.7% in April in local currency terms, statistics agency data showed.
Friday’s release is the first time Zimstat has given a year-on-year local currency inflation rate since authorities launched the Zimbabwe Gold (ZiG) currency in April 2024.
The ZiG is Zimbabwe’s sixth attempt at a stable currency in less than two decades after a bout of hyperinflation under former leader Robert Mugabe.
But the ZiG is down almost 50% since its launch, according to Friday’s exchange rate on the central bank website.
(Reporting by Tannur Anders; Editing by Alexander Winning)
