Zimbabwe’s annual inflation rate accelerated for a second consecutive month to hit 4.3% in October 2026. The figure represents the highest headline print recorded since June, rising 60 basis points from September’s 3.7%.
According to data released by the Zimbabwe National Statistics Agency (ZimStat), consumer price index growth slowed on a month-on-month basis. Monthly CPI expanded by 0.2% in October, moderating from 0.5% in September.
The year-on-year uptick marks a continuous upward trend after inflation bottomed out at 2.9% in August. Price pressures were primarily driven by core consumer categories, including Food & Non-Alcoholic Beverages, Housing, and Transport.
Despite the two-month acceleration, headline inflation remains well within the Reserve Bank of Zimbabwe’s target. Central bank Governor John Mushayavanhu maintains guidance expecting annual ZiG inflation to end 2026 under 7%.
The current disinflationary backdrop reflects enhanced monetary stability following recent policy measures. Afreximbank’s latest country brief forecasts Zimbabwe’s full-year 2026 inflation to average 3.9%, down sharply from 55% in 2025.
