Articles tagged 'inflation'

Worry over inflation pressures 15 October 2018 HARARE - Consumers will continue to feel the heat as retailers adjust their prices upwards nearly on a daily basis to keep pace with inflation, which a United States-based expert put at 155,8 as of last Friday. Renowned US economist Steve Hanke said Zimbabwe's 2018 cumulative inflation hit 155...
Prices spiral out of control 27 September 2018 HARARE - The price of cooking oil has shot up by more than 20 percent, adding to the cost-push inflationary pressures triggered by the recent wave of price adjustments.
Inflation pressures mount 22 September 2018 HARARE - Zimbabwe's inflation pressures continue escalating as the country's annual broad money supply (M3) rose by 40,8 percent to $9,1 billion in June 2018 from $6,4 billion recorded in same period last year. Broad money supply is money in circulation — physical currency and demand deposits....
Zim inflation to break records 21 September 2018 HARARE - Zimbabwe's annual inflation rate is expected to break records this year after it rose to 4,83 percent in August, gaining 0,54 percentage points from the July rate of 4,29 percent. The figure is now 0,17 percent short of the December projection of 5,0 percent by the World Bank. The ...
Prices of basic goods shoot up 1 July 2018 HARARE - Prices of basic consumer goods have gone up sharply over the past few weeks, on the back of worsening foreign currency shortages in the country. At the same time, experts warn that the price increases are set to continue beyond the July 30 national elections — as the insatiable demand...
'Zim situation worsening' 30 June 2018 HARARE - Zimbabwe’s situation — economic downturn, youth unemployment, corruption, human rights abuses and poor service delivery — has worsened over the past five years, a survey has revealed. According to the survey — conducted by Magamba Network in conjunction with Citizens Manifesto and the...
Inflation recedes 17 April 2018 HARARE - Zimbabwe's annual inflation shed 0,3 percentage points in March to close the month at 2,68 percent, latest data from the national statistical agency show. “This means that prices as measured by the all items Consumer Price Index increased by an average of 2,68 percent between March 20...
Annual inflation rate now 3,52pc 20 March 2018 HARARE - Zimbabwe's annual rate of inflation gained 0,6 percentage points in December 2017 to 3,52 percent in January 2018, latest official data shows, partly driven by the 2018 back to school spending. The Zimbabwe National Statistical Agency (Zimstat) said this means prices, as measured by t...
ED's forex looters list a big joke 20 March 2018 HARARE - President Emmerson Mnangagwa's government yesterday released the long-awaited list of companies and individuals alleged to have failed to return $827 million stashed abroad following the expiry of a 14-week-long amnesty, the Daily News can report. Read full story in today's paper. ...
Policy holders prejudiced billions of dollars 19 March 2018 HARARE - Insurance and pension industry players did not keep consistent and reliable asset values during the pre-dollarisation period, resulting in ordinary Zimbabweans failing to assess risks and ultimately investing their hard-earned money down the drain. This was revealed by a commission of...
Zim$ pensions values set at Z$13m/US$1 10 March 2018 HARARE - A commission of inquiry set up to probe the process used to convert pensions and insurance benefits following dollarisation of the economy in 2009 has come up with a conversion ratio from Zimdollar to US dollars. The nine-member commission chaired by retired judge Justice George Smith...
Zim's credit rating improves 8 March 2018 HARARE - Respected South Africa-based economic research firm NKC African Economics (NKC) yesterday upgraded Zimbabwe’s sovereign credit rating or ability to borrow money for the first time in nearly 20 years, saying continued progress on economic and institutional reforms would boost the country’...
Beef prices drop 30 January 2018 HARARE - For beef lovers, the time of suffering and paying through the nose for steaks, braai packs and roasts could soon be coming to an end. Beef prices, which have been increasing for months, recently hitting rates high enough to inspire outbreaks of steak thefts at supermarkets and even th...
Chiwenga tasked to deal with price hikes 11 January 2018 HARARE - The ruling Zanu PF party has set up an ad-hoc committee led by Vice President General Constantino Chiwenga (retired) to deal with the thorny issue of skyrocketing prices. The party's spokesperson Simon Khaya Moyo said the committee, whose other members were not revealed to the media, ...
ED calls for crisis meeting over prices 29 December 2017 HARARE - President Emmerson Mnangagwa has called for a crisis meeting with business leaders to try and find a solution to high prices placed on basic commodities which have triggered an outcry from long-suffering consumers. Mnangagwa, who is largely viewed as pro-business in his approach has, ...
Zim business confidence down 20 December 2017 HARARE - Business confidence in Zimbabwe was at an all-time low in the third quarter as a result of political uncertainty, poor economic performance, policy confusion and a general lack of leadership, a Confederation of Zimbabwe Industries latest survey shows. The composite business confidence...
Profiteering culture must stop, now 19 December 2017 HARARE - Hard-pressed Zimbabweans have once again been hit by a wave of massive price increases. According to a snap survey by this paper, prices of basic commodities — rice, chicken and beef, among many other needs — have gone haywire, rising by between two and 125 percent within a month. ...
Tackle root cause, not symptoms 14 November 2017 HARARE - Zimbabwe's celebrated music superstar, Oliver Mtukudzi, has a popular song titled Handiro Dambudziko, which has lyrics that go — Kushingirira kurapa mhopo pamusana...mhopo iripamusana iwe uneziso rinembonje. Translated to English, this means putting much effort in curing the symptom b...
Stop fighting, create jobs 13 November 2017 EDITOR — We know and appreciate that our economy is on its knees but I am sure our government can  find ways to ensure that every Zimbabwean citizen especially our youths are fully empowered as we face many challenges everyday in order to survive and fend for the families. Because of our econo...
'Economy remains Zanu PF's greatest opposition' 10 November 2017 HARARE - Residents of Mbare hostels have jerked up the Harare City Council (HCC) after they ran a staggering $500 000 electricity bill in one month — prompting the local authority to revive plans to introduce pre-paid meters — months after the same community had rejected them. The hostels whic...
Zim woes beyond price controls, priority lists 10 November 2017 HARARE - To anyone who has a basic understanding of economics, the wave of price hikes witnessed in recent weeks was nothing but the wake of market forces. The market — manufacturers and retailers, among other economic players — was merely responding to circumstances on the ground. But it s...
Fights will not solve Zim economic woes 9 November 2017 HARARE - Since independence from the British in 1980, the Zimbabwean political landscape has metamorphosed significantly, but for the generality of the population, nothing has improved. If anything, things have registered phenomenal deterioration over the years. The gap between the rich and th...
Zim prices zoom out of control 1 November 2017 HARARE - Hard-pressed Zimbabwean consumers are in the throes of skyrocketing grocery bills that are likely to deprive them of the joys of Christmas, with unofficial inflation figures showing that food prices have gone up by between 20 to 100 percent in the past month, the Daily News can report. ...
'Hyperinflation returns to Zim' 1 November 2017 HARARE - Hard-pressed Zimbabwean consumers are in the throes of skyrocketing grocery bills that are likely to deprive them of the joys of Christmas, with unofficial inflation figures showing that food prices have gone up by between 20 to 100 percent in the past month, the Daily News can report. ...
Govt plunging Zim into fiscal disaster 31 October 2017 HARARE - A fiscal disaster is looming as President Robert Mugabe’s Zanu PF government is on a spending spree ahead of 2018 elections, often funded through recourse to expensive debt. The reckless and carefree expenditure — amid a widening budget deficit and waning national revenue collections ...