Zimbabwe National Statistics Agency announced the annual inflation for February 2020 rose to 540.16 percent. (Xinhua/Zhang Yuliang)
Zimbabwe's annual inflation for February 2020 jumped to 540.16 percent, up from 59.39 percent in February 2019, the Zimbabwe National Statistics Agency announced.
HARARE, March 17 (Xinhua) -- Zimbabwe's annual inflation for February 2020 jumped to 540.16 percent, up from 59.39 percent in February 2019.
Zimbabwe National Statistics Agency (ZIMSTA) announced the figures Monday as it resumed publication of annual inflation data after a one-year suspension.
Finance Minister Mthuli Ncube had suspended publication of the figures to avoid miscalculation of the country's inflation given the changes in functional currency from U.S. dollar to Zimbabwe dollar in June last year.
The statistical agency was over the past year only producing monthly inflation figures.
According to ZIMSTAT, monthly inflation for February this year rose to 13.52 percent from 2.23 percent in January.
Zimbabwe has been facing high inflation levels in recent months due to a weak exchange rate and effects of a drought. ■
