Thursday, August 23, 2007

Bad inflation

By Michael J.W. Stickings

Hey, I complain when the Blue Jays raise their ticket prices. But this -- well, this provides some perspective:

Zimbabwe's annual rate of inflation jumped to 7,638% in July according to the first official figures to be published for three months.

And it could be -- and get -- even worse:

Last month, the International Monetary Fund warned annual inflation could reach 100,000% by the end of the year.

The Consumer Council of Zimbabwe has said the real year-on-year inflation is far higher than the official rate -- claiming it was nearer 13,000% in June.

Well done, Tyrant Mugabe. Quite the little paradise you've got over there.

Labels: ,

Bookmark and Share