United States economist and currency expert, Steve Hanke, revealed that Zimbabwe’s inflation rate has hit 290 percent – the second highest in the world after Venezuela (reportedly 80 000 percent at the end of 2018).
This inflation rate is in stark contrast to the reduced 42.09 percent official figure reported by the Zimbabwe National Statistics Agency (ZimStats) in November 2018.
On Friday, Hanke said: “Zimbabwe’s annual inflation rate measured for today, using high-frequency data, is 290 percent, a recent high.
“I have been predicting the abandonment of dollarisation has resulted in another inflation surge. If Zimbabwe fails to remove the bond notes from the system the economy will lapse within a year or less.”