ECONOMISTS say the deflation seen in May was a result of a tight monetary stance assumed by the central bank in the wake of its introduction of the Zimbabwean Gold (ZiG) currency, but they insist that this doesn’t necessarily signal the end of the country’s currency woes.
According to the Zimbabwe National Statistics Agency, the month-on-month inflation rate for May 2024 was -2,4 percent, meaning prices decreased by an average of 2,4 percent between April 2024 and May 2024.
This is the first time the agency has reported deflation in some years.