Author:
Date: May 21, 2008 12:42
Pre-Mugabe, it was 'The bread basket of Africa'. Thriving economy,
major exporter of food to the continent.
Then along came the bright idea to throw out all those nasty white
Imperialists, and 'give the land back to the people'.
Great idea.
"Weary Zimbabweans are facing a new wave of price increases that will
put many basic goods even further out of their reach: A loaf of bread
now costs what 12 new cars did a decade ago.
Independent finance houses said in an assessment Tuesday that annual
inflation rose this month to 1,063,572 percent based on prices of a
basket of basic foodstuffs. Economic analysts say unless the rate of
inflation is slowed, annual inflation will likely reach about 5
million percent by October.
As stores opened for business Wednesday, a small pack of locally
produced coffee beans cost just short of 1 billion Zimbabwe dollars. A
decade ago, that sum would have bought 60 new cars.
And fresh price rises were expected after the state Grain Marketing
Board announced up to 25-fold increases in its prices to commercial
millers for wheat and the corn meal staple.
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