Rate:
Share
Views: 27093
Text Size:
Comments (4)

Zimbabwe Inflation Rate

Zimbabwe's Annual Inflation Rate is now 516 Quintillion Per Cent

By Luke Burgess
Tuesday, December 2nd, 2008

Hyperinflation has Zimbabwe in the throes of a financial crisis that makes the one we're dealing with look like a walk in the park.

The monthly inflation rate in Zimbabwe is currently running at 13.2 billion per cent, and could reach an all-time world record within weeks.

The latest figures put Zimbabwe's annual inflation rate at 516 quintillion per cent. That's 516 followed by 18 zeros.

Consumer prices on everything from gasoline to glue are doubling on average every 1.3 days.

Zimbabwe's inflation crisis is now the second worst inflation spike in history, behind the hyperinflationary crisis of Hungary in 1946, in which prices doubled every 15.6 hours.

In September 2007, the exchange rate between the U.S. dollar and the Zimbabwe dollar was USD1 to ZWD253. The current exchange rate between the U.S. dollar and the Zimbabwe dollar is USD1 to ZWD60,623. This is a 23,861% increase since then.

Below you'll see some some photos that I gather from around the internet of the affects of hyperinflation in Zimbabwe.

20081202_zimbabwe_inflation_rate_1.jpg

20081202_zimbabwe_inflation_rate_2.jpg

20081202_zimbabwe_inflation_rate_3.jpg

20081202_zimbabwe_inflation_rate_4.jpg

20081202_zimbabwe_inflation_rate_5.jpg

20081202_zimbabwe_inflation_rate_6.jpg

20081202_zimbabwe_inflation_rate_7.jpg

20081202_zimbabwe_inflation_rate_8.jpg

20081202_zimbabwe_inflation_rate_10.jpg

20081202_zimbabwe_inflation_rate_11.jpg

20081202_zimbabwe_inflation_rate_12.jpg

20081202_zimbabwe_inflation_rate_13.jpg

20081202_zimbabwe_inflation_rate_14.jpg




Rate this article: 		 
     Current Rating:  
Article RatingArticle RatingArticle RatingArticle RatingArticle Rating (80 votes)

Comment on this Article


Comments:

Comment by Craig on 2008-12-03
That is crazy. Love the image at the end. Great commentary as always, Luke.

Craig
Comment by Mike Newman on 2008-12-25
Robert Mugabe is still the mass murderer as he was in the 1960s and 70s when he was doing it in the guise of "freedom fighting". Zimbabwe also has Britain and the Labour party in particular to thank for Mr Mugabe being in power. I do not know what the Labour party or Mr Wilson got out of that deal but they certainly did not do the Zimbabweans any favours. Wherever the British have poked their noses in, they have made an unholy mess of things and then just left!

Mike Newman
Comment by eu on 2009-05-09
Afican people haha lol haha child in the rest of the world are more educated then adult africans haha
Comment by Tafton Weight on 2009-07-02
I have recently returned back to the United States after spending 2 years living in Zimbabwe serving the people there the best way that I knew how. The people there are very strong and amazing. I would love to see how Americans would handle such circumstances. I can tell you that we would collapse as a people. I know what it is like to go with out food and water for days with out end. We need to do all that we can to help out those people who are in need. It is easy to make comments about how stupid they are for allowing that to happen when you are so far away without having an idea what life is like for those people. Americans think that they are so damn strong and untouchable. I have often heard people in America say that if someone like Mugabe was doing those things here we would have risen up and sorted things out long before allowing this kind of situation to happen. Well, I hope that you are all right because it is happening at this very moment. Do you honestly believe that Obama's stimulus package is going to improve things? Printing more money and spending more money never got anyone rich. Zimbabwe has learned the hard way about that. I guess that Americans are going to have to learn the hard way too. We are no too far from being in the same boat as Zimbabwe. Wake up America!! It is easy to point our fingers and say what a bunch of idiots. Take a look at what is happening at the home front!!!!