Wednesday, July 02, 2008

One Million Per Cent

Inflation in Zimbabwe is estimated at one million per cent. I know there are a lot of horrors talked about there, but this one seems imaginable. So, imagine living with one million per cent inflation.
Zimbabwe's central bank stopped posting inflation figures in January, when it stood at a relatively modest 100,580%. A loaf of bread costs 30 billion Zimbabwean dollars.
Vending machines, which take coins, fell out of service in Zimbabwe years ago. A single soda would require the deposit of billions of coins. Imported from South Africa and in very short supply, a Coke sells on the black market for around 15 billion Zimbabwean dollars. Civil servants mostly get paid through direct deposits into bank accounts, which limit withdrawals to 25 billion Zimbabwe dollars a day.

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