Zimbabwe's money problems took a small turn for the better last month when prices stopped rising as fast. The country's new currency called Zimbabwe Gold saw monthly price increases fall from 0.9 percent down to just 0.3 percent during June. Government officials say their tough spending rules are finally starting to work against runaway costs. The Zimbabwe National Statistics Agency released these numbers showing some hope for regular shoppers. People can breathe a little easier when buying everyday items at local stores.
The yearly inflation picture still looks scary with prices jumping 95 percent compared to last year. This massive increase came from earlier problems when the old currency lost most of its value very quickly. Economists expect the annual rate will drop if monthly increases stay low like they did in June. The government had to completely change its money system to fix exchange rate disasters. Leaders hope their strict policies will keep bringing inflation under control over time.
Housing costs drove most of the price increases that families faced last month. Water bills, electricity charges, gas prices, and transportation fees all pushed costs higher for regular people. Phone and internet services also made life more expensive across the country. These basic necessities account for the 0.3 percent price jump that people experienced. American dollar prices stayed mostly steady with only tiny increases during the same period.
The yearly inflation picture still looks scary with prices jumping 95 percent compared to last year. This massive increase came from earlier problems when the old currency lost most of its value very quickly. Economists expect the annual rate will drop if monthly increases stay low like they did in June. The government had to completely change its money system to fix exchange rate disasters. Leaders hope their strict policies will keep bringing inflation under control over time.
Housing costs drove most of the price increases that families faced last month. Water bills, electricity charges, gas prices, and transportation fees all pushed costs higher for regular people. Phone and internet services also made life more expensive across the country. These basic necessities account for the 0.3 percent price jump that people experienced. American dollar prices stayed mostly steady with only tiny increases during the same period.
