THE country’s year-on-year inflation surged by 10,16 percentage points to 31,01 percent last month as the spiralling price increases continue driven by speculative parallel
market rates and persistent foreign currency shortages.
In October, Zimbabwe’s rate of inflation reached its record high since February 2009 when the country adopted a multicurrency
system to reach 20,85 percent.
The country adopted a multicurrency regime to harness hyperinflation that had reached unprecedented levels between 2007 and 2008.
In its monthly report for November, the Zimbabwe National Statistics Agency (ZimStat) said the year on year inflation rate (annual percentage change) for the month of November 2018 as measured by the all items
Consumer Price Index (CPI) stood at 31,01 percent, gaining 10,16 percentage points on the October 2018 rate of 20,85 percent.
This means that prices as measured by all the items CPI increased by an average of 31,01 percent between November 2017 and November 2018.”
During the period under review, year-on-year food and non alcoholic beverages inflation prone to transitory shocks stood at 42,71 percent while the non-food inflation
rate was 25,40 percent.The Consumer Council of Zimbabwe said the rise in prices has dampened spending in recent months with the cost of living rising by 4,6 percent to $697,76 for a food basket for a family of six in November compared to

$666,93 in October.Chronicle