December inflation rises to more than 42% in Zimbabwe

Harare — Zimbabwean consumer prices rose at a new post-hyperinflation record pace in December, adding to the economic woes of a country that is reeling from foreign-exchange and fuel shortages.

Inflation accelerated to 42.1%, from 31% in the previous month, the Zimbabwe National Statistics Agency said in a statement e-mailed on Thursday.

While that is well below the 500-billion percent the International Monetary Fund estimated it reached in 2008, there are big price discrepancies depending on whether goods are paid for electronically or with banknotes, casting doubt on the official figure.

Zimbabwe has been rocked by protests this week as unions went on strike and people marched against massive fuel-price increases announced by President Emmerson Mnangagwa.

Bloomberg