HARARE, Aug. 26 (Xinhua) -- The Reserve Bank of Zimbabwe (RBZ) on Wednesday hailed the sustained decline in the local Zimbabwe Gold (ZiG) annual inflation, which hit 2.9 percent in August, its lowest level since independence in 1980.
In a statement, the country's central bank noted that Zimbabwe has maintained a single-digit ZiG annual inflation rate for eight consecutive months since January, marking a significant milestone toward price stability and macroeconomic confidence.
The bank added that annual ZiG inflation has averaged 4.2 percent over the first seven months of 2026 and is expected to remain stable within single-digit levels in the medium to long term.
Sustaining single-digit inflation for 24 months is one of eight conditions required before Zimbabwe transitions from a multi-currency system to exclusive use of the ZiG, according to the RBZ.
Data released Tuesday by the Zimbabwe National Statistics Agency (ZIMSTAT) showed monthly ZiG inflation held steady at 0.1 percent in August.
In U.S. dollar terms, August monthly inflation dropped to 0.0 percent from 0.3 percent in July, while the annual rate remained unchanged at 3.1 percent. ZIMSTAT credited ongoing exchange rate stability for keeping both ZiG and U.S. dollar inflation low. ■