Tuesday, November 27, 2007

Zimbabwe's Inflation is incalculable

Can you imagine an inflation rate so high that goods have disappeared from the shelves and there is nothing to calculate. In Zimbabwe, money has become completely and totally worthless.

(BBC) Basic goods have disappeared from supermarket shelves Zimbabwe's chief statistician has said it is impossible to work out the country's latest inflation rate because of the lack of goods in shops. "There are too many data gaps," the Central Statistical Office's Moffat Nyoni told state media.

Many staple goods are often absent from shop shelves after the government ordered prices to be halved or frozen in a bid to stem galloping inflation. September's inflation rate was put at almost 8,000%, the world's highest.