Zimbabwe’s annual inflation rises to 76 pct

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A man shows new notes introduced by the Reserve Bank of Zimbabwe in Harare, Zimbabwe, Nov, 28, 2016. [Photo/IC]

HARARE — Zimbabwe’s annual rate of inflation for the month of April 2019 rose to 75.86 percent, up from 66.80 percent in the previous month.

Month on month inflation also climbed to 5.52 percent, gaining 1.14 percentage points on the March rate of 4.38 percent, the Zimbabwe National Statistics Agency said Wednesday.

Zimbabwe’s annual rate of inflation has been on an upward trend since October last year amid worsening economic conditions characterized by shortages of fuel, power and foreign currency.

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