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On the Way to 100,000% Inflation

That land distribution plan, racism, and brutal dictatorship is really working out. 

Zimbabwe’s annual rate of inflation jumped to 7,638% in July according to the first official figures to be published for three months.

The Central Statistical Office said inflation had more than doubled since May - the last official data released.

Since then the government has ordered shopkeepers to slash their prices and arrested anyone who has failed to obey.

Last month, the International Monetary Fund warned annual inflation could reach 100,000% by the end of the year.

The Consumer Council of Zimbabwe has said the real year-on-year inflation is far higher than the official rate - claiming it was nearer 13,000% in June.

Posted by Owen at 2158 hrs
Foreign Affairs

1. Last August it was 250 new Zimbabwe dollars to a US dollar.  This year its 120,000 to one U.S. dollar.

   Land redistribution and government price freezes have never worked.  Why won’t people learn?

   Posted by .(JavaScript must be enabled to view this email address) on August 23, 2007 at 1227 hrs
   
   
   

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