Zim inflation rate drops – to 600%

By Shingai Nyoka

Zimbabwe says its annual inflation rate dropped by almost 180% last month, thanks to a stringent programme that included disrupting black market currency trading and cutting government salaries.

Despite the improvements, inflation remains above 600%, and food prices continue to rise.

The IMF says the economy could improve further, but it warns that without greater productivity and an increase in foreign currency earnings, long-term stability will remain elusive.