Zimbabwe's inflation soars 756 percent in April

Source: Xinhua | 2020-05-31

Zimbabwe's annual inflation for April stood at 765.57 percent, gaining 89.18 percentage points from the previous month, the Zimbabwe National Statistics Agency (Zimstat) said on Saturday in a statement.

Inflation stood at 676.39 percent in March.

Zimstat said month-on-month inflation in April was 17.64 percent, having shed 8.95 percentage points from March.

Exchange rate instability, driven by the parallel market, has been pushing up the prices of goods and services in Zimbabwe over the past months.

Zimbabwe has faced a prolonged shortage of foreign currency, which has in turn affected essential imports such as fuel and medical drugs.