Perhaps someone out there knows how to calculte the rate of inflation accurately.
In August 2006 one pound was worth 800 Zimbabwean dollars. at the begining of this week one pound was worth 200,000,000 yes 200 million dollars. the week before saw the rate go from 140 to 150 then over the weekend to 200.
How do the poor people survive in this climate.
We spent from November to this week trying to buy cement for a school that we have been building.
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If it goes up to three times as much is that 300% inflation?
latest figures from Save the Children and UNICEF peg inflation at 165,000 percent (May 2008)
The last Zimbabwean official figure is 20 000 000% but analysts say it is well above 50 000 000%. But the truth is its all distorted for example US$100 as I write is worth Z$50 000 (revalued) cash or Z$8 000 000 (revalued), cheque value or bank transfer. I dont think anyone outside Zimbabwe will be able to understand.
It sounds rediculus but true that in zimbabwe I can be able to buy, by cheque a product from a supplier and be able to sell back exactly the same thing to the same supplier where I bought it from at a far lower price, demanding cash and go and buy again the same thing by cheque from the same supplier............. and we both keep getting profit.
Imagine how the common being will survive in such an environment.
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