Zimbabwes sky-rocketing inflation hit an annual rate of 100.000 per cent in January, new official figures show. Ongoing shortages of food and fuel helped drive inflation from Decembers rate of 66.212 per cent, BBC online reports Wednesday.
But government officials say the shortages make it hard to work out inflation with any degree of accuracy. About 80 per cent of the country’s population lives in poverty and it is estimated that three million people have left the country for a new life in South Africa.
The economy has been in trouble for seven years, with supplies of basic foodstuffs, cooking oil and petrol all running low.
The central bank has introduced new banknotes to cope with the spiralling prices. Last month it issued a 10 million Zimbabwe dollar note.
President Robert Mugabe stands for re-election next month. He faces a challenge from his former finance minister, Simba Makoni and the leader of the opposition Movement for Democratic change, Morgan Tsvangirai.
