Real inflation rate 1000%


t=”on”>Zimbabwe’s inflation rate has officially hit 782 percent according to figures released by the Central Statistical Office last week.  It went up from 61percent in January.

Economists say the real figure is way above 1,000 percent – the highest inflation in the world. Second on the list is Iraq with a rate of only 40 percent, while South Africa stands at 4.5 percent, and Zambia at 19 percent. The reality of hyper-inflation is beyond the telling of it. Zimbabwe’s financial chaos has no parallel anywhere in the world, as the government has resorted to unprecedented steps such as ad hoc printing of trillions of bearers’ cheques, which replace bank notes as legal tender at the whim of the president, and the nationalisation of the lucrative farming and mining industries.

Post published in: Economy

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