Saturday, May 17, 2008

Inflation in Zimbabwe

Last year inflation was declared illegal in Zimbabwe after reaching 1000% per year. Today we have a spectacular example of the velocity of the increase :

"During the meal, one of my mates was drinking beer — 750ml bottles of Castle Lager (fondly called bombers). He ordered a fifth one, was advised that the price, which when he ordered his first, second, third and fourth ones was 160 million per bottle, had gone up to 340 million per bottle.

That's right — during lunch there was a price increase…"(via)