Sunday, May 14, 2006

1000% inflation

Robert Mugabe’s slow-motion destruction of Zimbabwe continues unabated:

Zimbabwe's inflation rate has surged past the 1,000% mark signalling that the African country is struggling to keep its economy functioning normally.

The annual rate of price growth was 1,042.9% in April, the Central Statistics Office (CSO) said, having risen 129 percentage points from March.

It means average goods are about 11 times as expensive in April 2006 as they were 12 months earlier.

Zimbabwe is suffering from shortages of food, fuel and foreign currency.

President Robert Mugabe blames domestic and foreign enemies for the problems.
Of course he did. The highest value currency note is a Z$50,000 bill; a daily newspaper now costs Z$80,000. It kinda puts $3 gas in perspective.

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