Zimbabwe inflation soars past 100,000%
Zimbabwe's annual inflation rate has soared to over 100,000%, according to official figures released on Wednesday, 20 February.
"The year-on-year inflation rate for the month of January 2008, as measured by the all items Consumer Price Index (CPI) stood at 100,580.2%, gaining 34,367.9 percentage points on the December rate of 66,212.3%," the Central Statistical Office (CSO) said in a statement.
"This means that prices as measured by the all items CPI increased by an average of 100,580.2% between January 2007 and January 2008."
Inflation of food and non-alcoholic beverages reached 105,428.0% while non-food inflation was 97,885.7%," said the statement.
The southern African country's economy has been in a tailspin for the past seven years, characterised by shortages of basic commodities like sugar, cooking oil and petrol.