Did you ever think in your wildest dreams that inflation could reach four figures? This has happened in Zimbabwe where inflation has jumped to a record figure of 2,200% in March. All this is happening as a result of widening political and economic crisis in the country. Both food and non food have been responsible for the year on year rate of inflation. The data for the month of March has been delayed fearing crippling of prices further. Even the secured interest rate is expected to jump to six hundred percent from the existing figures of five hundred percent.
It was in the month of February that inflation hit 1,730% which is considered to be the world’s highest rate of inflation. The currency of the country has an exchange rate of two hundred fifty to a US dollar but a new rate is being offered for central bank purchases of foreign currency for building a drought stabilization fund. Exporters businesses have also been seriously hurt as a result of this exchange rate. It seems that the Robert Mugabe has killed the economy of the country.
Via: bbc
