Friday, August 1, 2008

Zimbabwe inflation now over 1 million percent


Lihat resit pembelian ini, betapa mahalnya sebotol mineral water.....tetapi itulah hakikatnya di Zimbabwe....





Rakyatnya boleh memegang duit '10 Juta Dollar' tetapi inflasinya terlalu tinggi..


It's a sad day when those that can afford to buy a loaf of bread need to cart 600-million Zimbabwean dollars to the store.

But the situation is only set to get worse in the crippled southern African nation. Amid surging inflation and political unrest, the Zimbabwean dollar has depreciated to such an extent that US$1 now buys an average Z$1-billion. The currency traded at equal value to the U. S. dollar in 1983.

Economic analysts say unless the rate of inflation is slowed, annual inflation will likely reach about 5 million percent by October. A small pack of locally produced coffee beans cost just short of 1 billion Zimbabwe dollars. A decade ago, that sum would have bought 60 new cars. About 80% of the country's population lives in poverty and it is estimated that three million people have left the country for a new life in South Africa.

No comments: