HARARE, Nov. 26 (Xinhua) -- Zimbabwe's monthly inflation rate dived to 11.7 percent in November from 37.2 percent in October, according to data released by the Zimbabwe National Statistics Agency (ZIMSTAT) on Tuesday.
"The month-on-month inflation rate was 11.7 percent in November 2024, a decline of 25.5 percentage points from the October 2024 rate of 37.2 percent," ZIMSTAT said.
The inflation slowdown in November reflects the recent stability of the local currency, the Zimbabwe Gold (ZiG), which had been devalued by 43 percent by the central bank in late September.
The sharp devaluation previously pushed inflation to 37.2 percent in October, marking a return to double-digit monthly inflation last seen in August 2022.
On Thursday, Finance Minister Mthuli Ncube will present the 2025 national budget in parliament, where he is expected to announce further measures to promote the use of the gold-backed ZiG in the economy. ■
