Zimbabwe's annual rate of inflation for the month of October gained 46.9 percentage points to close the month at 1,070.2 percent from the September rate of 1,023.3 percent, the Central Statistical Office said on Friday.

Month on month inflation also recorded a 12.7 percent gain to 27.5 percent up from last month's figure of 14.8 percent.

Year on year food and non-alcoholic beverages inflation recorded a 11.9 percent increase to end the month at 1,126 percent while month on month food and non-alcoholic beverages inflation stood at 32.5 percent after gaining 9.4 points.

Acting statistical office director Moffat Nyoni said the change in the annual rate of inflation showed that goods were 11 times as expensive in October as they were at the same period last year.

"A bundle of goods and services that cost 100 Zimbabwe dollars in October 2005 would on average cost 1,170 Zimbabwe dollars in October 2006," he said.

Among the major contributors to the rise in the consumer price index on an annual basis were domestic power, gas, bread and cereals, mineral water, soft drinks and fruit juices, meat and furniture and furnishings.

The same items, including major household appliances and passenger transport, accounted for the 12.7 percent increase in the monthly rate.

Dubbed the country's number one enemy, inflation continues to present major challenges in the Zimbabwean economy and continues to erode the value of the local currency.

Source: Xinhua