Zimbabwe has seen cash based transactions increased to $16.60 billion in October 2021from $14.86 billion in September 2021, according to the latest statistics released by the Reserve Bank of Zimbabwe (RBZ).
Mobile and internet-based transactions stood at $263.30 billion, during the month under analysis, a 7.32% increase from ZW$245.33 billion in the previous month. During the same month of October 2021, card-based transactions registered a marginal increase of 1.00% to close at $57.01, from $56.44billion in September 2021.
This saw transactions processed through the National Payments System (NPS) increase by 2.79% to close at $801.49 billion in October 2021, from $779.71 billion recorded in the previous month.
Similarly, NPS transaction volumes rose by 3.52% to close at $129.39 billion, during the month of October2021.
Zimbabwe Electronic Transfer Settlement System (ZETSS) Real Time Gross Settlement System (RTGS) transactions values increased from $481.18 billion in the previous month to close at $477.93 billion in October 2021. RTGS transaction volumes declined by 6.72% to close at 1.11 million in October 2021.
In the same month, local currency monthly inflation increased to 6.4%, from 4.73% in September 2021, driven by rises in both food and non-food inflation according to the Central Bank.
Monthly food inflation surged from 4.82% in September 2021 to 7.56% in October 2021, following increases in prices of all food sub categories, led by bread and cereals, vegetables and meat.
Non-food inflation also increased from 4.67% in October to 5.56% in October 2021, spurred by rises in costs of transport and miscellaneous goods and services. The rise in foreign exchange premiums on the parallel market has partly accounted for the rising monthly inflation since July 2021 – Harare