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Scaling the heights of inflation

Last week Zimbabwe's official annual inflation figure rose to 24,000 percent but this figure is thought to be less than a fifth of the actual figure.

This figure is not surprising given that in December 2007 three notes of $200,000, $500,000 and $750,000 were introduced by the Reserve Bank of Zimbabwe and the highest note could not buy a loaf of bread because the price had already gone beyond a million dollars.

Therefore in January three more notes were introduced and this time they were for $2 million, $5 million and $10 million and this time the highest note could at least buy three loaves of bread.

Less than three years an idea was hatched to remove three zeros and that would put today's prices into billions.

I think that as long the fundamental economic problems are not solved and corruption is tackled head on the inflation rate will continue to rise but right now it seems like nobody is interested in that at all with ruling party Zanu PF focusing on the upcoming elections scheduled for the end of March.

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