Zimbabwe inflation at 471.25% y/y in October - Zimstats

HARARE (Reuters) - Zimbabwe's inflation rate eased to 471.25% in October year-on-year, compared with 659.4% the previous month, statistical agency Zimstats said on Wednesday.

On a monthly basis, prices increased by 4.37% compared with 3.83% previously.

Zimstat did not give a reason for the drop in the year-on-year consumer price index, but the national treasury has forecast that the annual inflation rate will fall further because a stabilising exchange rate is easing price pressures.

(Reporting by MacDonald Dzirutwe; Editing by Alex Richardson)