HARARE, Aug. 25 (Xinhua) -- Zimbabwe's annual inflation rate of the local Zimbabwe Gold (ZiG) currency fell further to 2.9 percent in August from 3.2 percent in July, according to official data released Tuesday by the Zimbabwe National Statistics Agency (ZIMSTAT).
The month-on-month ZiG inflation rate remained stable at 0.1 percent in August, unchanged from the previous month.
In U.S. dollar terms, the monthly inflation rate dropped to 0.0 percent in August, down from July's 0.3 percent. The annual U.S. dollar inflation rate held steady at 3.1 percent, ZIMSTAT reported.
The agency credited ongoing exchange rate stability for keeping both ZiG and U.S. dollar inflation low during the month.
The Reserve Bank of Zimbabwe, the country's central bank, said last week that it expects annual ZiG inflation to average around 5 percent by the end of 2026, with monthly inflation staying under 1 percent due to a tight monetary and fiscal policy stance.
Zimbabwe recorded a single-digit annual ZiG inflation rate of 4.1 percent in January for the first time in over three decades, with monetary authorities reiterating their commitment to maintaining price stability to anchor long-term macroeconomic growth. ■