Zimbabwe's annual inflation rate reached a new record at 7,634.8% in July.
The first official prices data published for three months by the Central Statistical Office showed that inflation measured 7,251.1 and 4,530 per cent in June and May respectively.
Zimbabwe is in its eighth year of recession marked by chronic shortages of fuel and foreign currency, and unemployment of more than 80%.
Month-on-month inflation for July was 31.6%, down 54.6 percentage points on the June figure, the data showed, with food and non-alcoholic beverages continuing to drive inflation higher.
President Robert Mugabe's government forced businesses to freeze prices in June to help stem inflation but the move exacerbated shortages, leaving shop shelves empty.
It eased some restrictions on Wednesday.
The director of the International Monetary Fund's Africa department, Abdoulaye Bio Tchane, said last month that if recent trends continued, Zimbabwe's year-on-year inflation could exceed 100,000 per cent by the end of the year.
The official Herald newspaper reported today that Industry and International Trade Minister Obert Mpofu had approved price rises for some food products, farming inputs, beverages, air and commuter train fares and other items.
More than 7,500 business people have been arrested and fined for breaching the price controls, which analysts say have worsened the economic turmoil ravaging the country.
The UN Refugee Agency earlier called on the international community to help develop plans to address the growing numbers of refugees who are fleeing Zimbabwe.
