Zimbabwe economic crisis – Photos show how bad it really is
New Hyperinflation Index (HHIZ) Puts Zimbabwe Inflation at 89.7 Sextillion Percent. Zimbabwe is the first country in the 21st century to hyperinflate. In February 2007, Zimbabwe’s inflation rate topped 50% per month, the minimum rate required to qualify as a hyperinflation (50% per month is equal to a 12,875% per year)
Zimbabwe is facing its worst economic crisis in a decade, with prices soaring, limits on bread purchases, and long queues for fuel.
|CRIMSON TAZVINZWA, AIWA! NO!|Zimbabwe is facing its worst economic crisis in a decade, with prices soaring, limits on bread purchases, and long queues for fuel.
This followed Finance Minister Mthuli Ncube’s decision to introduce a tax increase on money transfers last week to try and stabilise the government’s finances.
The announcement triggered a rise in basic-commodity prices, stoking fears of an inflationary spiral and leading to long queues forming at petrol stations.
Zimbabwe Inflation Rate 2009-2018
The inflation rate in Zimbabwe rose to 4.83 percent year-on-year in August 2018 from 4.29 percent in the prior month. It was the highest inflation rate since December 2011, mainly as prices advanced faster for food & non-alcoholic beverages (7.5 percent vs 6.3 percent in July). On a monthly basis, consumer prices went up 0.40 percent, following a 0.98 percent increase in the previous month. Inflation Rate in Zimbabwe averaged 1.08 percent from 2009 until 2018, reaching an all time high of 5.30 percent in May of 2010 and a record low of -7.50 percent in December of 2009.
Zimbabwe Inflation Rate
In Zimbabwe, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. This page provides the latest reported value for – Zimbabwe Inflation Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Zimbabwe Inflation Rate – actual data, historical chart and calendar of releases – was last updated on October of 2018.