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The latest figures reflect continued price stability under tight monetary policy measures, with the ZWG maintaining relative stability since late 2025. Analysts attribute this to strong gold prices, increased commodity-backed reserves and strict control of money supply.
Zimstat said the ZWG month-on-month inflation rate rose slightly to 0.1% in February 2026, gaining 0.1 percentage points from the 0.0% recorded in January.
"This means that prices as measured by the all-items ZWG Consumer Price Index (CPI), increased by an average rate of 0.1 percent from January 2026 to February 2026," said Zimstat.
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Food prices continued to ease during the period, with the month-on-month Food and Non-Alcoholic Beverages inflation rate falling to -0.1% in February 2026, a 0.2 percentage point decrease from the January rate of 0.1%.
However, non-food inflation rose modestly, with the non-food month-on-month inflation rate increasing to 0.3% in February, gaining 0.4 percentage points from the -0.1% recorded in January.
Zimstat also reported a decline in annual inflation.
"The ZWG year-on-year inflation rate (annual percentage change) for the month of February 2026, as measured by the all-items ZWG Consumer Price Index (CPI), was 3.8 percent, shedding 0.3 percentage points on the January 2026 rate of 4.1 percent. This means that prices as measured by the all-items ZWG CPI increased by an average rate of 3.8 percent from February 2025 to February 2026," said Zimstat.
Meanwhile, inflation measured in USD also remained subdued. The USD month-on-month inflation rate stood at 0.1% in February 2026, shedding 0.1 percentage points from the 0.2% recorded in January.
The USD year-on-year inflation rate declined to 0.9%, down from 1% in the previous month.
During the same period, the weighted month-on-month inflation rate remained at 0.1%, while the weighted annual inflation rate stood at 1.6%, according to the weighted Consumer Price Index.
Market analysts say the currency's improved stability is largely due to the Reserve Bank of Zimbabwe's tight monetary policy stance, which significantly reduced money supply growth from about 100% to below 1% in early 2025.
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High interest rates, currently around 35%, have also curbed speculative borrowing and limited liquidity flowing into the parallel market, further supporting price and currency stability.
