Zimbabwe’s annual inflation rate in ZiG declined to 3.2% in July, down from 4.7 percent recorded in June, reflecting sustained price stability, official statistics show.

According to the latest data released by the Zimbabwe National Statistics Agency, month-on-month price growth slowed significantly in July.

The ZiG month-on-month inflation rate slowed to 0.1 percent in July, down 0.5 percentage points from 0.6 percent in June. On an annual basis, ZiG inflation stood at 3.2 percent.

Price pressures in United States dollars remained similarly subdued. The USD month-on-month inflation rate printed at 0.3 percent for July, up slightly from 0.1 percent in the prior month, while year-on-year USD inflation was recorded at 3.1 percent.

Taking into account the multi-currency transaction mix within the economy, ZIMSTAT reported a blended, weighted year-on-year inflation rate of 3.2 percent.

Analysts say maintaining the trend will depend on consistent economic policies, exchange rate stability and stronger domestic production.

While inflation remains positive, the July data indicates that the pace of price increases is moderating, adding to signs of a more stable economic environment.