Zimbabwe suffers further from deflation

(MENAFN) Data released by Zimbabwe National Statistics Agency (Zimstat) showed a decrease in the rate of Zimbabwe's annual inflation in March by 0.42 percent to reach -0.91 percent, Xinhua reported. Analysts cited the reason of this deflation to the low aggregate demand in a poorly performing economy. Apart from that, the weakening of the South African rand against the United States dollar, which is the currency of reference in Zimbabwe, also contributed in this deflation. "This means that prices as measured by the all items Consumer Price Index decreased by an average of 0.91 percentage points between March 2013 and March 2014," Zimstat said.