Sunday, 18 May 2008

Zimbabwe inflation hits 355,000%, so is there a crisis now??!!!

The Zimbabwe Independent and ZWnews has reported (15May2008) that inflation has now hit 355,000% - no wonder Zimbabweans are pouring out of the country and into Soweto, Jhb city centre, Cape Town, South Africa!
That 23 trillion ZW$ meal was a bargain the other day!
So, comparing inflation rates (using my inflation calculator):

165,000 % per annum
13,750 % per month
3,056 % per week
458 % per day

355,000 % per annum
29,583 % per month
6,574 % per week
986 % per day

1,700,000 % per annum
141,667 % per month
31,481 % per week
4,722 % per day

and last month's R7 loaf of bread will now cost R2,078!!!.... but if inflation had remained @ 165,000% it would have been a bargain @ R97

And "some people" say that there's no crisis in Zimbabwe! - well that "no-crisis" is now "coming home to roost"!

From the article: "The central bank introduced the $500 million bearer cheques for the public and the $5 billion, $25 billion, $50 billion agro-cheques for farmers. The new notes come hardly two weeks after the introduction of the $250 million bearer cheques.

The Zimbabwe Independent, 15 May: see here for the full story: Inflation hits 355 000%

Update on Wed21May2008: Oh no.. .can you believe that this can actually get worse - now it's up to 1,000,000%.
See here for more details:
Zim inflation estimated at 1 million %

Update on Thu29May2008: From The Zimbabwe Independent: Inflation Shocker: 1,700,000%
ANNUAL inflation for May galloped to 1,700,000% as the Zimbabwean dollar continued to crash causing prices of goods and services to skyrocket....

Next week
Next month
Next quarter
Next year
Cost of item: R 7.00 R 337.56 R 2,210.70 R 9,923.67 R 4,729.22 R 119,007.00

1 comment:

  1. Imagine if you had to pay a SAP or Netweaver license in Zim. It would cost a small countries' GDP


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