ZWG monthly price growth steady at 0.1%

Zimbabwe's ZWG annual inflation rate fell to 2.9% in August from 3.2% in July, according to the Zimbabwe National Statistics Agency, marking another decline in a steady trend since the start of the year, reaching the lowest in recent months, and falling from 4.5% at the start of the year. The agency reported the figures on Tuesday. Month-on-month inflation remained stable at 0.1%, unchanged from the previous month, indicating that price pressures are contained and providing a positive sign for the economy, with the rate at 0.1% for two consecutive months. In US dollar terms, monthly inflation was also stable, reflecting low price pressures. The decline in annual inflation signals continued macroeconomic stability and boosts confidence in the ZWG currency, supported by the central bank's tight monetary policy and reduced money supply growth, suggesting that the ZWG is gaining credibility and that the central bank's policies have been effective.