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Inflation it

The inflation Reasons

Rates of inflation

Inflation Types

Inflation Consequences

The Monetary depreciation

Inflation of costs

Open inflation

The Runaway inflation

Struggle against inflation

Inflation in Russia

Inflation in the USA

Inflation in Ukraine

Inflation in Zimbabwe


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Inflation in Zimbabwe

The Hyperinflation in Zimbabwe has begun soon after destruction of capacities by a civil war and confiscation belonging white farmland. Foodstuffs production has fallen to 45 %, industrial production on 29 % in 2005, 26 % in 2006 and 28 % in 2007, thus the rate of unemployment has grown to 80 %. At the height of inflation 2008-09, was difficultly exact to define its size because the government of Zimbabwe has terminated issue of official statistics. Absence of statistics hinders supervision about weight of inflation in the country. In December, 2008 inflation in Zimbabwe was evaluated at level of 6,5 quindecillions (10 in 48 degrees) novemdecillions (10 in 60 degrees) percent (or 650 million googol (10 in 100 degrees) percent that makes 6,5 x 10108 % or 65 with the subsequent 107 zero) In 2009 the government of Zimbabwe has refused the currency, now in 2012 the new currency is not entered till now, token moneys of other countries continue to be used.

Inflation in Zimbabwe

In 2007 the government of Zimbabwe declared inflation illegal. Any who lifted prices of goods and services was exposed to arrest. It meant price freeze which, is routine, inefficient for an inflation stop. Many chiefs of the enterprises have been seized at change of prices of goods.

In December, 2008 the Central bank of Zimbabwe licensed approximately 1000 shops, allowing them to work with a foreign exchange. Citizens began to use more and more a foreign exchange in daily accounts, and local shops began to clean pricetags with dollars of Zimbabwe because the foreign exchange was necessary for import of the foreign goods for them. Many small firms and street dealers do it without licence reception.

In January, 2009 Minister of Finance Patrick Chinamasa has lifted a deadline on use only Zimbabwean dollars. To citizens have allowed to use US dollars, euro and the South African rand. Nevertheless, teachers and officers still get wages in Zimbabwean dollars. And though their salaries are estimated in billions, they make about 1 US dollar. Besides, the government uses restrictions on bank remittances, for monetary stock reduction in circulation. It limits cash withdrawal to 500 000 dollars of Zimbabwe which make about 25 cents of the USA.

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