Zimbabwe’s official inflation rate is now 231,000,000% – while Australia sits on 3%. The World Food Programme has launched an appeal to feed 5 million Zimbabweans as they say 80% of the country’s population is now living on less than $2.50 a day and nearly half are chronically malnourished.
The latest official inflation rate is twenty times higher than last month and economists estimate it will run into the trillions next month.
“If you need something and have cash, you buy it. If you have cash you spend it today, because tomorrow it’s going to be worth 5 percent less.” Mike Davies, chairman of the Combined Harare Residents Association.
A loaf of bread, which cost Z$500 at the beginning of August, now in October costs around Z$10,000.
Nick Holmes à Court put me onto these images that really show the state of Zimbabwe’s economy.
This is how much it costs for a loaf of bread – around Z$10,000.
Buy a shirt for three billion dollars?
There is no shortage of change to split the bill at a restaurant.
What would you do with 100 billion dollars? Buy 3 eggs?
If you think your market it in a downturn remember these photos and things won’t seem so bad :)
By Ross Hill - October 31st, 2008 at 5:03pm with 2,352 views - australia world food programme zimbabwe
