inflation

President Emmerson Mnangagwa’s administration is set to institute a currency board with the aim of backing all units of domestic currency in circulation with foreign currency and reduce the skyrocketing inflation in Zimbabwe. Ashok…
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Zimbabwe’s largest business group has warned that the economy faces collapse if the government insists on foisting the rapidly weakening local currency on the market when it is obvious that it is no longer viable.
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There has been a public outcry about the government's frequent borrowing, but Mr Buhari - in a presentation to parliament - said that Nigeria’s debt level was still within sustainable limits.
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President Emmerson Mnangagwa said on Wednesday that Zimbabwe's currency was under attack from businesses that were constantly increasing prices and this was part of a wider political plot against his government.
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Zimbabwe’s central bank left its benchmark interest rate at 35% on Monday, citing moderating inflation, as it looks to print more local currency and limit the use of foreign currencies.
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Zimbabwe has increased the price of petrol and diesel by up to 26% after the finance minister raised import tax on fuel last week, adding more pressure on citizens grappling with tripple-digit inflation.
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Fresh anti-government protests have erupted in Sudan as doctors said they would go on strike to increase pressure on President Omar al-Bashir.
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Zimbabwe's official inflation is misleading and does not reflect the price increases of goods and services consumers are witnessing, a leading equities firm has said.
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Consumers will continue to feel the heat as retailers adjust their prices upwards nearly on a daily basis to keep pace with inflation, which a United States-based expert put at 155,8 as of last Friday.
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The annual rate of inflation for the month of May surged by 0,27 percentage points from 0,48 percent in April, spelling more trouble for the embattled consumer.
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