Zimbabweans shrugged off their country's latest world record-breaking inflation data yesterday as irrelevant to a misery that could only get worse.
Zimbabweans shrugged off their country's latest world record-breaking inflation data yesterday as irrelevant to a misery that could only get worse.
After a long delay, the government released official figures on Wednesday showing July inflation at 7635percent.
Despite its staggering scale, many people said it underestimated the true situation and paled into insignificance alongside chronic food, fuel and foreign currency shortages.
The data was published after the government imposed a price freeze which backfired and left store shelves empty.
"These inflation statistics are meaningless ... it is the height of dishonesty for them to release inflation figures only after enforcing price reductions," said Patrick Moyo, a student in Harare.
Although the government says the inflation figure is correct, many analysts and critics say it is likely much higher. The International Monetary Fund said last month it may reach 100000 by year-end.
That may rattle Zimbabweans. But their president, a former African liberation hero, remains defiant after 27 years in power. - Reuters
More misery for Zimbabweans
Zimbabweans shrugged off their country's latest world record-breaking inflation data yesterday as irrelevant to a misery that could only get worse.
Zimbabweans shrugged off their country's latest world record-breaking inflation data yesterday as irrelevant to a misery that could only get worse.
After a long delay, the government released official figures on Wednesday showing July inflation at 7635percent.
Despite its staggering scale, many people said it underestimated the true situation and paled into insignificance alongside chronic food, fuel and foreign currency shortages.
The data was published after the government imposed a price freeze which backfired and left store shelves empty.
"These inflation statistics are meaningless ... it is the height of dishonesty for them to release inflation figures only after enforcing price reductions," said Patrick Moyo, a student in Harare.
Although the government says the inflation figure is correct, many analysts and critics say it is likely much higher. The International Monetary Fund said last month it may reach 100000 by year-end.
That may rattle Zimbabweans. But their president, a former African liberation hero, remains defiant after 27 years in power. - Reuters