Zimbabwe inflation eases to 2,7%
HARARE, ZIMBABWE – Apr 15 2011 13:38
Zimbabwe’s inflation eased in March to 2,7%, down from 3% in February,
thanks to lower prices for telecommunications and medicine, the government
said on Friday.
The Southern African country suffered a decade of runaway prices amid
hyperinflation.
The economy stabilised after the government abandoned the worthless local
currency in 2009, allowing trade in US dollars and other major foreign
currencies.
The formation of a power-sharing government in 2009 by the main political
rivals, President Robert Mugabe and Morgan Tsvangirai, has also brought
stability to the economy.
But foreign investors have maintained a wait-and-see stance amid concerns
over new equity regulations that seek to give locals majority stakes in
foreign-owned companies. — AFP