Tuesday, October 14, 2008

Inflation in Zimbabwe

Ever thought how high inflation can go? We Indians are cribbing over 12% inflation rate. In Zimbabwe the inflation is over 2 Million percent !!!

That means price of everything doubles in every 22 days!!

Gosh! How can people survive there!!!
According to wikipedia
"In the Guardian, on 18 July 2008, a report on Zimbabwe's inflation, said that an egg costs ZW$50 billion (GBP 0.17, USD 0.32), and it showed adverts for prizes of Z$100 trillion in a Zimbabwean derby and ZW$1.2 quadrillion ($1,200,000,000,000,000.00: ~GBP 2,100; USD 4,200) in a lottery. It also showed a monthly war pension currently is ZW$109 billion (GBP 0.37, USD 0.74), shops can only cash cheques if the customer writes double the amount, because the cost will go up by the time the cheque has cleared, and people can only withdraw a maximum of ZW$100 billion from cashpoints."

No comments: