Zimbabwe might actually hit single-digit inflation for the first time since 1997 if Finance Minister Mthuli Ncube gets his way. The guy told Parliament that the rate should drop to around 10 percent before the year wraps up and could dip below that threshold early next year. Annual inflation already fell from 82.7 percent in September to 19 percent last month, which is the lowest reading since late 2023.
Ncube credits tight monetary policy and good crop harvests for keeping prices stable. Monthly inflation stayed around 0.4 percent between February and October, which shows their currency moves are working. Business analysts think hitting single digits is doable if the government keeps exchange rates steady and does not mess with the money supply.
Some worry that global trade drama and South Africa beefing with the United States could mess things up from the outside, though. The forecast pegs average inflation at 12.1 percent for next year, which seems realistic if nothing wild happens externally.
Ncube credits tight monetary policy and good crop harvests for keeping prices stable. Monthly inflation stayed around 0.4 percent between February and October, which shows their currency moves are working. Business analysts think hitting single digits is doable if the government keeps exchange rates steady and does not mess with the money supply.
Some worry that global trade drama and South Africa beefing with the United States could mess things up from the outside, though. The forecast pegs average inflation at 12.1 percent for next year, which seems realistic if nothing wild happens externally.
