Good News: Zimbabwe Inflation Now Over 66,000%

Talk about a country needing change.

Actually, change is probably all they have in their pockets.

ZIMBABWE’s inflation rose to a farcical 66212 percent in December — a number so high as to make it almost impossible for the price of any basic item to stay the same for a day.

Zimbabwe now enjoys the highest inflation rate in the world and its economic policies have become meaningless as prices rise with breathtaking speed.

Amidst this economic meltdown on its borders, South Africa remains a bizarrely passive observer.

President Thabo Mbeki appeared to depart entirely from reality last week, when he reported on his “successful” diplomatic efforts in Zimbabwe.

Mbeki appears oblivious to how Mugabe uses him for grinning, back-slapping photo-calls before ignoring everything he says and carrying on with his plans to stay in power forever.

This weekend, news broke in Zimbabwe of how Mugabe is planning to amend the election laws to make it more difficult for candidates to challenge him the forthcoming presidential election.

Mugabe is clearly trying to force challenger Simba Makoni out of the race by fiddling with the election laws.

Update: Actually, the author now says the inflation rate is closer to 150,000%.

I’M NOT an economist, but I don’t believe the official inflation rate of 66 000%. Its nearer 150 000%. I know this sounds crazy, but we Zimbabweans are used to it.

Here are some illustrations of just how mad life has got in my country. Here prices don’t go up, they are constantly “adjusted upwards”. Even the prices of things that have been on shelves for months go up all the time.

Here’s an example: A bus conductor will tell you that the bus fare has gone up halfway through the journey. When I went to Mutare in December, the bus fare was Z$1,5 million. As I write, the same fare is Z$25 million.

The price of bread doubles every two-and-a-half days. And the price varies form shop to shop. A loaf of bread usually exchanges hands about three times before it reaches its final destination. It also changes price each time it exchanges hands.

In January last year, teachers went on strike, demanding a salary of Z$ 200 000 a month. Now they are demanding salaries of $Z1,7 billion a month. And they have reason. Right now they are earning the equivalent of R300 a month.

Unreal.