Zimbabwe inflation estimated
at more than 1,000,000%
Independent finance houses have said in an assessment that annual inflation rose this month to 1,063,572% based on prices of a basket of basic foodstuffs. As stores opened for business on Wednesday, a small pack of locally produced coffee beans cost just short of Z$1-billion. A decade ago, that sum would have bought 60 new cars.
This is an example of the economic havoc that runaway inflation can inflict.