Wednesday, February 08, 2006

Horrors Of Hyperinflation

I know no one really cares overly much about my Econ posts but take a moment to read this short article from the BBCNews. The article is basically just quotes from your average person living in a country where the inflation rate is expected to hit 1000% in two months. Already it 50,000 Zimbabwean dollars to but a loaf of bread (the largest bill is only Z$1,000 so special cheques must be used)

"Because my income hasn't risen as much as the prices in the shops, we have had to adjust quite a bit. The things that we buy - the groceries at home, the things we get for our two children - we have to buy immediately, as soon as we get the money. We know that if we wait a bit, the prices are going to go up again. If we wait another week, we will not be able to afford anything. "