Zim's inflation among the highest

HARARE - Less than a decade after hyperinflation wiped pensions and savings, Zimbabwe is hogging the limelight for the wrong reasons once again.

The southern African nation has been named among nations with the world’s highest inflation rates.

Steve Hanke, an economics professor at Johns Hopkins University in the United States, said in a tweet last week that hyperinflation — defined as monthly inflation above 50 percent for at least 30 consecutive days — had returned.

“My Weekly Annual Inflation Roundup Table. The usual culprits of #Veneuzela, #Zimbabwe and #Iran top the list with the world’s highest inflation rates. #Argentina, #Sudan and #Turkey aren’t too far behind,” Hanke said.

The country’s crippled economy plunged deeper into crisis after last July elections which President Emmerson Mnangagwa narrowly won.

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