Posted to the web 10 October 2008 Johannesburg Zimbabwe's official annual inflation rate reached 231 million percent in early October, from the July estimate of 11.2 million percent, and the deadlock in talks between the ruling ZANU-PF and opposition parties is likely to push hyperinflation higher. The state-run daily newspaper, The Herald, said the driver behind the inflation rate was wheat shortages that forced bakers to import ingredients, which led to a higher bread price. After a succession of dismal harvests, attributed to environmental factors and political disruptions, nearly half of Zimbabwe's citizens will require food assistance in the first quarter of 2009, according to the UN. Several attempts by President Robert Mugabe's government to bring down inflation - including lopping off ten zeroes from the currency,...
[read full story]
Your Web Site
