The statistics office said on Wednesday that the Inflation rate in Zimbabwe has jumped to 131.7% this May, as fallout from the Ukraine war hit an already battered economy.
Inflation surged to triple digits for the first time since June last year with prices of cooking oil and bread increasing due to Russia’s invasion of Ukraine.
The government last week tried to control prices by putting a hold on import duties on commodities like cooking oil, rice and flour.
In April, inflation was already at 96.4%, the Zimbabwe National Statistical Agency said in a statement.
A foreign currency shortage has left local companies battling to buy supplies from overseas to produce goods in Zimbabwe.
The war in Ukraine also affected supplies of farm chemicals for local crops by cutting off key suppliers.
The Zimbabwe dollar was reintroduced in 2019 but is already declining rapidly in value.
