In Zimbabwe, inflation is roaring back – The Wall Street Journal
DUBLIN – Ask any economist – hyperinflation is one of the most painful economic experiences possible. Zimbabwe grappled with a long and devastating period of hyperinflation. Back in 2008, inflation hit an annualized rate of 231,150,889% before the government stopped reporting it. Hyperinflation only ended when Zimbabwe stopped using its own currency in 2009 and switched to the US dollar for daily transactions. After over a decade of economic sanctions and tragic mismanagement, Zimbabwe is in a bad way. The country is still struggling politically and now there are fresh signs of rampant inflation. For ordinary Zimbabweans, life has been almost unliveable for decades. The wasted human potential is heart-breaking. – Felicity Duncan
By Bernard Mpofu and Gabriele Steinhauser
(The Wall Street Journal) Prices for some consumer goods are skyrocketing in Zimbabwe, a painful echo of the hyperinflation that ripped through the Southern African country a decade ago.
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