Latest News
Year-on-Year Inflation for October 2024 at 15.7 Percent
Annual inflation for October 2024 increased to 15.7 percent from 15.6 percent recorded in September, 2024. This means that on average, prices of goods and services increased by 15.7 percent between October 2023 and October 2024 (see Figure 1). This development was mainly attributed to price movements of food items.
Figure 1: Annual Inflation Rate, October 2023 – October 2024 (%)
Annual Food and Non-Food Inflation
Annual food inflation for October 2024 was recorded at 18.2 percent compared to 17.9 percent in the previous month (see Figure 2). This means on average, prices of food items increased by 18.2 percent between October 2023 and October 2024. This was mainly attributed to increases in prices of food items such as Bread and cereals (Breakfast Mealie Meal, Roller Mealie Meal, Rice Local, Rice Imported, Bread, Bun, Fritters, Bread Flour Imported;) Meat (Fillet Steak, Rump Steak, Brisket, Mixed Cut, T-bone, Beef sausage, Pork Chops, Chicken Frozen); Fish (Buka Buka, Fresh Kapenta, Dried Bream-Medium Sized-Opened, Dried Kapenta Siavonga).
The annual non-food inflation for October 2024 was recorded at 12.2 percent compared to 12.4 percent in September 2024. This means on average, prices of non-food items increased by 12.2 percent between October 2023 and October 2024. This outturn was mainly attributed to price movements in prices of non-food items such as Household textiles (Blankets, Foam Mattress, Pillows); Major household appliances whether electric or not (Refrigerator, Microwave oven, Sewing machine – Perfect) and Fuel (Petrol & Diesel).
Figure 2: Annual Food and Non-Food Inflation, October 2023 – October 2024 (%)
