Final July, authorities deferred the announcement of year-on-year inflation price till February 2020, however analysts have been utilizing the CPI to calculate year-on-year inflation price. Already, firms have adopted a hyperinflation reporting customary –IAS 29.
Inflation was 540,16% in February 2020 when authorities resumed publishing official figures. It surged to 676,39% in March earlier than leaping to 766% the next month.
The nation’s annualised inflation price closed 2019 at 521%, defying authorities’ two-digit projection.
Presenting the mid-year price range overview, Finance Minister Mthuli Ncube mentioned inflation was anticipated to fall within the second half of this yr to 300% in December.
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