Privately owned newspapers in Zimbabwe got a lift from bumper editions reporting financial results that began being released in September instead of July, due to delays caused by unavailability of inflation rates from the first half of the year until June 30.

The rush to publish financial results follows a government cabinet taskforce on pricing, which forced newspapers to cut prices and advertising rates by half at the end of June. The taskforce overlooked independent newspapers in a review allowing state newspapers to hike cover prices by 20 percent and advertising rates by 50 percent at the end of August.

More than 80 companies listed on the Zimbabwe Stock Exchange were compelled to publish their own results in the local press, as well as 30 banks and 15 asset management companies registered by the Reserve Bank of Zimbabwe, BizCommunity has reported.

The results were delayed from being published in July due to the government banning release of inflation rates, which began in April. This made it impossible for companies to prepare financial results adjusted for inflation. Inflation figures were eventually disclosed by the Central Statistical Office for July, which comes at a record 7,634.8 percent, a 383.7 percent gain on June's inflation rate. Zimbabwe's inflation rate had already been the highest in the world.

Companies have until the end of September to publish their results adjusted for inflation, a deadline that has given newspapers a financial boost for the month. However, struggling with high printing and newsprint costs, local newspapers are struggling after the price cuts and ban on increases without permission from the cabinet taskforce on prices, according to BizCommunity.