Guambat Stew

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Saturday, May 13, 2006

Inflation rate at 2.75% -- per DAY

The Central Statistical Office (CSO) has finally released the April inflation figures which show that Zimbabwe’s "number one enemy" has shot past the 1 000% mark. Items that recorded the highest increases in prices were postal services (5 180.4%), hairdressing salons (4 454. 3%) and rent (3 787.8%) The month on month inflation was 21.1% gaining 1.3 percentage points on the March 2006 rate of 19.8%, said the CSO.

Analysts say Mugabe has dented Zimbabwe's investment image with his seizure of white-owned commercial farms for blacks, and that government plans to acquire a 51 percent stake in all foreign-owned mines will keep external funding at bay. Political analysts say rising hardships in Zimbabwe's major towns -- where residents are struggling with water and electricity shortages and cuts, crumbling sewerage systems, deteriorating roads, costly housing and transport problems -- are pushing many towards the limit of their endurance.

posted by Guambat Stew at Saturday, May 13, 2006

2 Comments:

Blogger Big Gav said...

How does that inflation rate compare to Weimar or late 1970's Latin America ?

13 May 2006 at 10:36:00 pm GMT+10  
Blogger Guambat Stew said...

Ahhhh! Well spotted Big Gav!
(http://guambatstew.blogspot.com/2006/04/money-for-nothing.html)

More than LatAm, less than the Kaiser's mess. But anything over 50% p.a. in my book all has the same effect and end.

14 May 2006 at 4:01:00 pm GMT+10  

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Name: Guambat Stew
Location: Dual citizen of Guam and Sydney, Australia

Notwithstanding my passionate expression of viewpoint, I have a keen interest in not taking things too seriously. I've been licensed to commit legal malpractice in 4 jurisdictions acrosst the Pacific. I've seen a fair bit of this funny old world. I don't know much but have an opinion about everything. I can be overbearing that way. Apologies.

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    Previous Posts

    • Inflation running off the rails
    • Copper is not liquid
    • Miner disasters
    • The two-fer retirement tax break
    • Naked shorts
    • Macquarie Bank Tolled off
    • It's all about eyeballs
    • Cashing up?
    • Carried away
    • Imagine a slinky that goes UP stairs