Thursday, October 9, 2008
Zimbabwe's annual inflation rate - already the world's highest - has soared to 231,000,000%, official figures for July 2008 show
The rise - from 11,200,000% in June - was largely due to increases in the prices of bread and cereals. A landmark power-sharing deal between President Robert Mugabe and opposition leader Morgan Tsvangirai has failed to ease the country's economic crisis.
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2 comments:
They stopped using special paper a few weeks ago because they realized that only an utter moron would bother counterfeiting a $20000 bill that is currently worth less than one US cent.
(Note: if not for the recent revaluation of the currency, that $20000 bill would have been a $200,000,000,000,000 bill.)
The cost of printing the money must be greater than its face value. I'm surprised the people haven't gone back to bartering.
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