Friday, May 18, 2007

Insane: Inflation in Zimbabwe

  • The cost of living doubled in Zimbabwe last month, lifting the annual rate of inflation above 3,700 per cent.
  • Economists forecast that inflation will continue to spiral out of control. Tony Hawkins, an independent economist in Harare, said: “It will be well above 10,000 per cent by the end of the year, probably nearer 15,000 per cent.”
  • A single brick now costs what ten years ago would have bought a mansion in the capital’s upmarket areas. This week the cost of postage stamps went up 600 per cent.
Even more insane: Robert Mugabe has a degree in Economics from London University! [link]