Factoid of the Day03/27/2008
Just how high is the annual rate of inflation in Zimbabwe?
From the Associated Press:
“Zimbabwe’s central bank has revealed that its annual inflation has climbed to 24,470 percent, by far the highest in the world—but far short of independent estimates of 150,000 percent….
“Supermarket till slips show the price of chicken rose more than 236,000 percent to 15 million Zimbabwe dollars ($3) a kilogram between January 2007 and January 2008. Scarce eggs rose by 153,000 percent in the same period.
“One of the lowest increases of about 64,000 percent was on sugar, bringing independent estimates for overall food inflation to about 164,000 percent.”