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Zimbabwe's inflation more than 425pc
Zimbabwe's official inflation rate has risen to a record high at more than 425 per cent. Shop owners are increasing prices on a daily basis to keep pace with Zimbabwe's runaway inflation rate. The Central Statistical Office has released the latest monthly figures, which show that inflation is now running at 426.6 per cent. Food, fuel and foreign currency are in short supply. Zimbabwe's mint is struggling to print enough bank notes to keep up with demand. Economic forecasters are warning that inflation could reach 1,000 per cent by the end of the year. Government attempts to control prices have failed with inflation more than doubling since the start of the year. Consumer prices have risen dramatically, despite government assurances of economic stability. Government officials have promised that inflation will be reduced to less than 100 per cent by the end of the year.
| Yeah. Bob's gonna tell somebody to make it stop... |
But economic forecasters fear the real figure could be up to 1,000 per cent. The United Nations World Food Program says more than five-million people are now reliant on food aid.
| In the former Breadbasket of Africa... |
Posted by: Fred Pruitt 2003-09-13 |
