Rav Casley Gera

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April 16th, 2008 · No Comments Yet · Print this entry Print this entry

Zimbabwe inflation hits 165,000%
Zimbabwe’s soaring inflation hit an annual rate of almost 165,000% in February, official figures show. Continuing shortages of food and fuel helped to push up inflation from January’s rate of 100,000%. Government officials say the shortages make it hard to work out inflation with any degree of accuracy.

The central bank has introduced new banknotes to cope with the spiralling prices. Last month it issued a 10 million Zimbabwe dollar note.

- BBC News

This is just… meaningless. Is this worse than Germany in the 20’s? It must be. This is over 2000% per day. You go out with £20 tomorrow morning, and by the evening it’ll buy you a bag of chips. By the following evening, you’ll need £400 for a bag of chips. And so on. Go on, economists, tell me it’s more complicated than that.

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