Inflation Zimbabwe 2023
Average inflation: 99.7%
Inflation in 2023
Inflation is very high at 99.7%, far above the ECB target.
Peak and Trough
The highest inflation was in June at 175.7%. The lowest inflation was in April at 75.2%.
- Highest month
- June: 175.7%
- Lowest month
- April: 75.2%
- Difference
- 100.5 percentage points
- Months with data
- 8 of 12
Historical Context
Inflation is 141.0 percentage points lower than the 5-year average of 240.7%.
- 5-year average
- 240.7%
- 10-year average
- 121.1%
- All-time high (2020)
- 621.5%
- All-time low (2015)
- -2.4%
Trend
Over the period 2021-2023, inflation shows a downward trend. Compared to 2022, inflation has fallen by 2.2 percentage points.
- Change vs. previous year
- -2.2 percentage points
- Largest monthly swing
- June: +66.9 percentage points
ECB Target
Inflation is 97.7 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for ZWL 100 this year will cost approximately ZWL 199.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 101.5% | +40.9 |
| February | 92.3% | +32.3 |
| March | 87.6% | +26.9 |
| April | 75.2% | +1.8 |
| May | 86.5% | +2.7 |
| June | 175.7% | +66.9 |
| July | 101.3% | -35.0 |
| August | 77.2% | -64.6 |
| Average | 99.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026. Not all months available yet.