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Life gets harder as Zimbabwe records high inflation

Life gets harder as Zimbabwe records high inflation

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The prices of basic commodities are soaring in Zimbabwe, as the country records an inflation rate of 175.66%, the highest ever in the last decade.

Bread and cooking oil is very expensive that people are afraid of having another hyperinflation like the one country experienced between 2008 and 2009.

Last weekend, the government again raised fuel prices by 16%. The third increase since prices at the pump almost tripled in January.

Zimbabwe has embarked on a race against time to avoid experiencing another hyperinflation. The government decided to ban current transactions in foreign currencies at the end of June. A measure struggling to curb regular shortages of staple foods and shorten lines across the country.

 

 

allAfrica

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