Zimbabwe's central bank says prices will keep rising until September. The country's new money called ZiG shows inflation at 92 percent. Bank chief John Mushayavanhu told people not to worry about the high numbers. He says the figures look bad because ZiG started only last year. Monthly price increases have stayed under one percent for three months.
The bank blames the scary numbers on math problems with the new currency. ZiG began as Zimbabwe's money during April 2024. Prices jumped sharply last October and made the yearly numbers look worse. Mushayavanhu says real inflation will drop after September when the numbers become more normal. He wants people to watch monthly changes instead of yearly ones.
Zimbabwe has much more money saved up since ZiG started. The country went from 257 million dollars to almost 700 million dollars in reserves. Bank leaders promise to keep tight control over money policy. They want to make sure prices and exchange rates stay steady. The central bank believes ZiG will prove stable once the early problems pass.
The bank blames the scary numbers on math problems with the new currency. ZiG began as Zimbabwe's money during April 2024. Prices jumped sharply last October and made the yearly numbers look worse. Mushayavanhu says real inflation will drop after September when the numbers become more normal. He wants people to watch monthly changes instead of yearly ones.
Zimbabwe has much more money saved up since ZiG started. The country went from 257 million dollars to almost 700 million dollars in reserves. Bank leaders promise to keep tight control over money policy. They want to make sure prices and exchange rates stay steady. The central bank believes ZiG will prove stable once the early problems pass.
