Zimbabwe inflation rate soars to 175% - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABC News Online
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Zimbabwe inflation rate soars to 175% via SABCNewsOnline

Official inflation is the highest since hyperinflation forced the government to abandon the Zimbabwe dollar in 2009.annual inflation rate hit 175% in June, official data showed Monday, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed. Official inflation is the highest since hyperinflation forced the government to abandon the Zimbabwe dollar in 2009.are regularly running short in the country.

“The year-on-year inflation rate for the month of June 2019 as measured by the all items consumer price index stood at 175.66% while that of May 2019 was 97.85%,” the Zimbabwe National Statistical Agency said in a statement. Millions of Zimbabweans have fled abroad in the last 20 years seeking work. Many others are now seeking to leave as conditions worsen under President Emmerson Mnangagwa, who had promised an economic revival after succeeding long-ruling Robert Mugabe in 2017.

Mnangagwa vowed to end the country’s international isolation, attract investors and create growth that could fund the country’s shattered public services.The US dollar has been the national currency since 2009, but in July, Zimbabwe in theory ended the use of US dollars and other and replaced them by two local parallel currencies, “bond notes” and electronic RTGS dollars; which would combine to become the new “Zimbabwe dollar.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 32. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buttler happy with career after ICC Cricket World Cup triumph - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Jos Buttler said nothing would faze him again after his key role in England's unforgettable World Cup triumph at Lord's.
Source: SABC News Online - 🏆 32. / 51 Read more »

Zuma denies any unlawful activities with the Guptas - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Former President, Jacob Zuma has claimed that he never engaged in any unlawful activities with the controversial Gupta family.
Source: SABC News Online - 🏆 32. / 51 Read more »

Eskom Group Treasurer Andre Pillay quits - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom's Group Treasurer Andre Pillay has become the latest high-profile resignation from the struggling power utility.
Source: SABC News Online - 🏆 32. / 51 Read more »