Sunday, January 18, 2009

Inflation in Zimbabwe - what a mess

Zimbabwe is introducing a Z$100 trillion note into the economy.

'The new 100 trillion dollar bill would be worth about $300 in U.S. currency. A loaf of bread in Zimbabwe now costs about 300 billion Zimbabwean dollars' - CNN
'As of November 2008, the latest figures put Zimbabwe's annual inflation rate at 516 quintillion per cent, with prices doubling every 1.3 days. Zimbabwe's inflation crisis is now the second worst inflation spike in history, behind the hyperinflationary crisis of Hungary in 1946...' - Wikipedia

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