Zimbabwe’s inflation is now at 1027%/ year, this is according to renowned American economic analyst Professor Steve Hanke’s world currency dashboard.
Posting on his X handle Prof Hanke said this is the world’s highest inflation rate.
He accused President Emmerson Dambudzo Mnangagwa of being arrogant, corrupt and incompetent.
The year-on-year inflation rate (annual percentage change) is measured by the all-items Consumer Price Index (CPI).
The strong link between fiscal deficit and money growth in Zimbabwe, especially since 1997 suggests that over-expansionary fiscal policy is often at the heart of hyperinflationary trend in the country.
Thus high fiscal deficits produce rapid money growth, which results in high rates of hyperinflation.
Zwnews
