Zimbabwe Gold Currency Records Price Drop, Annual Inflation Still High

Zimbabwe’s Gold (ZWG) currency registered a slight improvement on the inflation front in September, with month-on-month inflation easing to –0.2%, according to figures released by the Zimbabwe National Statistics Agency (Zimstat) on Monday. The decline has raised expectations that annual inflation—still running at high double-digit levels—could gradually fall as the year closes.

Data shows the ZWG has held firm against the US dollar since September 2024, when it last experienced a major depreciation.

“The month-on-month inflation rate for September 2025 stood at –0.2%, down from 0.4% recorded in August, reflecting an average 0.2% drop in consumer prices,” Zimstat noted.

Breaking down the figures, Food and Non-Alcoholic Beverages posted a 0.2% month-on-month rise in September, reversing a –0.1% decline in August. Non-food inflation, however, dropped sharply to –0.5% from 0.6% in the previous month.

On a year-to-year basis, inflation remains high. “Annual ZWG inflation for September 2025 was 82.7%, meaning prices were on average 82.7% higher compared to the same month in 2024,” Zimstat added.

The Reserve Bank of Zimbabwe (RBZ) continues to enforce a strict monetary policy stance to preserve the stability of the ZiG currency, introduced in April 2024. Measures have included maintaining an elevated policy interest rate to discourage speculative borrowing and keep inflation and exchange rates in check.

Meanwhile, inflation measured in US dollars was unchanged at 0% month-on-month for September 2025, while the year-on-year figure stood at 13.4%.

In terms of poverty thresholds, Zimstat said the Food Poverty Line (FPL) for one individual in September was ZWG 877.03, while the Total Consumption Poverty Line (TCPL)—covering both food and non-food essentials—was ZWG 1,292.80.

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