The rate of inflation in Zimbabwe jumped to just over 11,250,000% in June, official figures show. “It gained 9,035,045.5 percentage points from the May rate of 2,233,713.4%,” said state media quoting the Central Statistical Office (CSO). However, experts believe the actual rate of inflation may be much higher.
Zimbabwe is in the midst of a dire economic crisis with unemployment at almost 80%, most manufacturing at a halt and basic foods in short supply.
High money supplies have also been fuelling hyperinflation. Critics have accused Africa’s caricature dictator Robert Mugabe’s government of printing money to finance his election campaign and prop up the economy. Month-on-month inflation in the country accelerated to 839.3% from 433.4%.
Mugabe must go soon, today …yesterday!