Zimbabwe's inflation rate skyrocketed to 175% in June, triggering traumatic memories of hyperinflation that erased most people’s savings a decade ago.
The country’s statistics agency measured inflation at 97% in May.
Millions of Zimbabweans have fled the country – many of them to South Africa – since the start its economic collapse in 2000.
Supplies of essentials, including basics such as bread, is running out in a country once known as a “breadbasket” (i.e. a region that produces surplus food, enough for itself and export).
Recently, a group of armed robbers stole 500 loaves of bread during a delivery at a bakery in Harare.
Last month, Zimbabwe banned the use of US dollars, South African rands and other foreign currencies.
The country now has a new “Zimbabwe dollar” (electronic RTGS dollar).
In November 2008 Zimbabwe’s inflation rate hit 89.7 sextillion percent (897 000 000 000 000 000 000 000%) after repeated bouts of “money printing”.
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