Zimbabwe’s year-on-year inflation was 540.16% in February, statistical agency Zimstat said, as the southern African nation resumed publishing annual consumer price data it suspended last year.

On a month-on-month basis, prices were up 13.52% during the same period compared to 2.23% during the previous month.

The central bank forecasts the annual inflation rate to fall to 50% by the end of the year but analysts say price pressures will remain elevated due to a weak exchange rate and shortages of food following a drought.

Reuters