Inflation soared to an annual rate of
231 million percent in July, the State run-Herald newspaper on Thursday quoted the country's Central
Statistical Office as saying, a huge leap from the official June
inflation rate which was given as 11.2 million percent.
But independent economists in Zimbabwe and abroad say the
figures do not reflect an economic
reality in which the cost of living is soaring astronomically.U.S economist Steven Hanke, an expert on hyperinflation who has consulted to countries on stabilizing prices, recently estimated that
inflation hit 531 billion percent in September, while Zimbabwean economist John
Robertson reckoned it ran at some 26 billion percent.
Robertson told reporter Carole Gombakomba of VOA's Studio 7 for Zimbabwe that such mind-boggling estimates and projections accurately reflect what could
come to pass if there is no government in place soon to launch an economic stabilization program.
More reports from VOA'S Studio 7 for Zimbabwe...
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