Monday, July 21, 2008
The government officially released figures last week indicating an inflation rate of 2.2 million percent. Unofficial estimates would put it closer to 10 million percent.
Interestingly in the first piece, I had not realized the Reserve Bank of Zimbabwe was actually issuing bearer bonds rather than banknotes. I don't think it makes too much of a difference.
That picture to the right is the Zim$/USD exchange rate for the last twelve months. That's what hyperinflation looks like.