This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7509715.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Zimbabwe inflation at 2,200,000% | Zimbabwe inflation at 2,200,000% |
| (10 minutes later) | |
| Zimbabwe's annual rate of inflation has surged to 2,200,000%, official figures have shown. | Zimbabwe's annual rate of inflation has surged to 2,200,000%, official figures have shown. |
| The figure is the first official assessment of prices in the troubled African nation since February, when the rate of inflation stood at 165,000%. | The figure is the first official assessment of prices in the troubled African nation since February, when the rate of inflation stood at 165,000%. |
| Zimbabwe, once one of the richest countries in Africa, has descended into economic chaos largely blamed on the policies of President Robert Mugabe. | Zimbabwe, once one of the richest countries in Africa, has descended into economic chaos largely blamed on the policies of President Robert Mugabe. |
| Mr Mugabe was re-elected last month in a controversial one-man race. | Mr Mugabe was re-elected last month in a controversial one-man race. |
| The opposition party, the Movement for Democratic Change (MDC), pulled out of the run-off election, saying its supporters were being attacked and killed. | The opposition party, the Movement for Democratic Change (MDC), pulled out of the run-off election, saying its supporters were being attacked and killed. |
| Rising costs are forcing retailers to increase prices a number of times a day for goods purchased with billion dollar bank notes and the number of people falling into poverty is on the rise. | Rising costs are forcing retailers to increase prices a number of times a day for goods purchased with billion dollar bank notes and the number of people falling into poverty is on the rise. |
| In May, the central bank issued a 500m Zimbabwe dollar banknote, worth US$2 at the time of issue, to try to ease cash shortages amid the world's highest rate of inflation. | |
| This is in stark contrast with the situation at independence in 1980 when one Zimbabwe dollar was worth more than US$1. | This is in stark contrast with the situation at independence in 1980 when one Zimbabwe dollar was worth more than US$1. |
| Mr Mugabe denies that he is ruining the economy, laying the blame on international sanctions he says have been imposed against Zimbabwe. | Mr Mugabe denies that he is ruining the economy, laying the blame on international sanctions he says have been imposed against Zimbabwe. |
| The US and the EU have imposed targeted sanctions, such as a travel ban and an assets freeze, on Mr Mugabe and his close allies. | The US and the EU have imposed targeted sanctions, such as a travel ban and an assets freeze, on Mr Mugabe and his close allies. |