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Zimbabwe inflation hits 2.2 million percent
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by Sanjay Jha | July 16, 2008 at 03:35 am
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Political uncertainty in Zimbabwe is proving costly to its economy. Soaring Inflation has been making all kind of records in Zimbabwe and this latest figure shouldn't surprise anybody.
Zimbabwe's annual rate of inflation has hit a new record high of 2.2 million percent, the central bank's governor Gideon Gono said on Wednesday. "Statistics provided by the CSO (central statistical office) indicate that it is now at 2.2 (million percent)," Gono said in a speech in Harare.
The figure is the first from the authorities in Zimbabwe since the announcement of the rate for February, when it was put at around 165,000 percent.
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Most RecentMost Recommended Comments (2)
at 03:47 on July 16th, 2008
Sanjay Jha, I like this story. It's good stuff.
at 18:39 on July 23rd, 2008
It's last year, when i was in Harare, Zimbabwe. The inflation at that time was appx. 4000% on the newspapers but I know the real number was far more than that (10,000 - 20,000%). You can exchange US$100 with 14million dollar zimbabwe if I remember it correctly. The whole money in the picture can only buy you one or two meals i guess. You buy things with one price in the morning and will get a different price (higher of course) when you come back in the afternoon. It's really crazy in this country.
I AM Trung has contributed a photo to this story.