How bad is inflation in Zimbabwe?
This page in:
Toilet paper costs $417. No, not per roll. Four hundred seventeen Zimbabwean dollars is the value of a single two-ply sheet. A roll costs $145,750 — in American currency, about 69 cents...
By March [2006], inflation had touched 914 percent a year, at which rate prices would rise more than tenfold in 12 months. Experts agree that quadruple-digit inflation is now a certainty...
The government recently announced that the price of childbirth, now $7 million, would rise 463 percent by October. Funeral costs are to double over the same period...
Although presumably, once the intrinsic value of notes exceeds the fiat value, they will find alternative uses (one of which was alluded to in the article), thus shrinking the money supply and providing some relief.
The situation in Zimbabwe is extremely bad and as long as people do not do something about it the crisis will continue.
I envy the action that students in Zimbabwe under the leadership of Zinasu are doing to fight the government of Robert Mugabe.
I am a Zimbabwean living in England and I used to live in Harare. I must say that my country has been ruined by Mugabe, just look at the exchange rate, poverty, the economic conditions of Zimbabwe. When I think about it my heart really goes, I wonder why Mugabe does not let the citizens of Zimbabwe decide the future of the country, and also Mugabe must realize that he is in power for the last 30 years his mind is getting old and he cannot think the same as the young generation can think, so he must resign for the better of Zimbabweans. Thank you
Pablo at PSD points to a NYT article reminding us what a hellhole Zimbabwe is:"Zimbabwe has been tormented this entire decade by both deep recession and high inflation, but in recent months the economy seems to have abandoned whatever moorings it had ...
Pablo at PSD points to a NYT article reminding us what a hellhole Zimbabwe is:"Zimbabwe has been tormented this entire decade by both deep recession and high inflation, but in recent months the economy seems to have abandoned whatever moorings it had ...