Zimbabwe's annual inflation rate slowed in August to 6,592.8% from July's record of 7,634.8%, according to the Central Statistical Office (CSO).
President Mugabe has imposed a price-control programme
The slowdown came in the midst of a price-control programme imposed by President Robert Mugabe in June.
Businesses were ordered to cut or freeze prices for items such as bread and milk.
But critics say the measures have just deepened the chronic food shortages suffered by Zimbabweans.
At the end of August, President Mugabe introduced jail terms of up to six months for anyone caught trying to raise prices or wages.
The CSO said the decline in inflation was due to a slowdown in prices for food and non-alcoholic drinks.
Despite the fall, Zimbabwe's inflation remains by far the highest in the world.