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The dollarization of the economy forced prices down by an average 3. The inflation rate, which fell 0. The last time an official inflation figure was given in July last year, it was a whopping million per cent. At the time, prices were still denominated in the now worthless Zimbabwe dollar, which has been abandoned by most since the central bank in November legalized the use of hard currencies, including the US dollar and the South African rand.
Announcing the new figures, Nyoni said: "The gap in the supply of statistics on inflation was due to the scarcity of products in the market, product prices being displayed in Zimbabwe dollars but actually being sold in foreign currency, and resource constraints faced by the CSO.
The CSO said that, an average family of five requires about dollars a month, but the average pay is dollars. A decade of misrule by President Robert Mugabe's government has left the economy teetering on the brink of collapse.
The country's new unity government, which has longtime opposition leader Morgan Tsvangirai as prime minister, has appealed to its neighbours for 2 billion dollars in short-term aid, while putting its long-term needs at 5 billion dollars. Southern African leaders are meeting to consider its appeal in Swaziland at the end of the month. Tsvangirai was invited to the country by South African officials following the traumatic experience of losing his wife, Susan in a road traffic accident on March 6.
He sustained head injuries which he finally recovered from as he rested in Durban with his children. He will only be back in the office on April 1. The online newsletter also reported that Tsvangirai was due to chair a meeting of the Council of Ministers on Thursday. Tsvangirai faces several outstanding issues when he returns to work. Among some of the pressing issues to be finalised in terms of the Global Political Agreement GPA are the appointment and swearing in of provincial governors and the swearing in of the Deputy Agriculture Minister, Roy Bennett.