HARARE, May 26 (Xinhua) -- Zimbabwe's annual inflation rate in the local Zimbabwe Gold (ZiG) currency declined to 4.4 percent in May, down from 4.8 percent in April, according to data released by the Zimbabwe National Statistics Agency on Tuesday.
Month-on-month ZiG inflation also dropped to 0.5 percent in May from 1.1 percent in April. In U.S. dollar terms, month-on-month inflation decreased to 0.3 percent from 1.1 percent in the previous month, though the annual U.S. dollar inflation rate rose to 2.8 percent from 2.2 percent in April, driven by higher prices of food and non-alcoholic beverages.
Having suffered from chronic hyperinflation over the years, Zimbabwe recorded a single-digit annual ZiG inflation rate of 4.1 percent in January for the first time in over three decades.
Despite inflation rising over the preceding two months due to higher fuel and food prices stemming from the Middle East conflict, the Reserve Bank of Zimbabwe expects inflation to stay within the single-digit level throughout 2026.
