Friday, May 18, 2007

Huge rise in Zim inflation

Zimbabwe's rate of inflation surged to 3,731.9%, driven by higher energy and food costs, and amplified by a drop in its currency, official figures show.

April's inflation rate jumped up from the 2,200% recorded last month, the Central Statistical Office (CSO) said.

The announcement came after Zimbabwe's government created a commission charged with finding a way to curb the country's spiralling cost of living.

There is high unemployment, and fuel and food shortages across the nation....

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