Friday, 31 October 2008

Zimbabwe's inflation rate

According to Steve H. Hanke's new Hyperinflation Index (HHIZ) at the Cato Institute, Zimbabwe's annual inflation is 10.2 quadrillion percent!

The index was set at 1.00 on the 5th of January 2007. As at the 24th October 2008 the index is at 48,500,000,000,000,000.00 which gives an annual inflation rate of 10,200,000,000,000,000%.

1 comment:

rate said...

The inflation rate was always a problem for the developing countries, because the financial markets and the free economy system needs some time to adjust in order to work properly.