• Most Popular
  • Most Shared

Zimbabwe inflation hits 2.2 million percent

HARARE
Wed Jul 16, 2008 8:32am EDT

Factbox
A Zimbabwean holds a newly issued fifty million dollar note at a street traders stand in the capital Harare, April 4, 2008. REUTERS/Mike Hutchings

HARARE (Reuters) - Zimbabwe's annual inflation rate, already the highest in the world, has hit 2.2 million percent, central bank Governor Gideon Gono said on Wednesday.

World

"Some independent economists say our inflation is 7 million percent annually but the CSO (Central Statistical Office) says it's 2.2 million percent," Gono said at the launch of a government program to supply basic goods.

The last official inflation figure of 164,900 percent year-on-year for February was released in April.

(Reporting by Nelson Banya)
World


More from Reuters

Photo

World should at least halve CO2 by 2050: draft text

COPENHAGEN (Reuters) - The world should at least halve world greenhouse gas emissions by 2050 with rich nations taking the lead, according to a first draft text on Friday seeking to break deadlock on a new climate pact at U.N. talks.

» More Top News
A weary trader rubs his eyes as he pauses outside the New York Stock Exchange following the end of the trading session in New York October 9, 2008. REUTERS/Mike Segar
EXCLUSIVE:

PIMCO finds its calling

It made a name for itself by investing in bonds, and now PIMCO has landed in a booming $1-trillion business that, put simply, steers clients through "very hard situations."  Full Article 

economy
A security personnel stands guard near oil pipelines at Tawke oil field near Dahuk, 400 km (245 miles) north of Baghdad May 9, 2009. REUTERS/Azad Lashkari

Now or never for Big Oil

The pressure's on for oil giants looking to secure rare access to cheap Middle East reserves as Iraq gears up to auction off some of the world's largest untapped oilfields.  Full Article 

Energy