Zimbabwe’s ZiG year-on-year inflation rose to 4.3% in October from 3.7% in September, pushed up by higher fuel and transport costs, ZIMSTAT reported on Tuesday.

The statistics agency said the increase was driven by price adjustments in the transport sector following fuel price movements.

Despite the annual uptick, monthly inflation remains contained.

ZIMSTAT said mean month-on-month ZiG inflation for the period January to October averaged 0.4%, a sharp decline from 1.2% recorded in the same period last year.

The slowdown in monthly inflation is seen as an indicator of improved price stability since the introduction of tight monetary measures.

In US dollar terms, annual inflation eased to 3.2% in October, continuing a downward trend that has provided relief for consumers and businesses that price in foreign currency.

Increase in Cost of Living

Meanwhile, the cost of living continues to edge up.

ZIMSTAT said the Total Consumption Poverty Line, the minimum income needed for an individual to afford basic food and non-food requirements, now stands at ZiG1,354 per person.

Economists say the October figures show that while annual pressures remain, the underlying monthly trend points to sustained disinflation if fuel price volatility is contained.