Non-Textbook Economics
Thursday, 23. August 2007, 20:36:19
Zimbabweans shrugged off their country's latest world-record breaking inflation data on Thursday as irrelevant to a misery that could only get worse.
After a long delay, the government released official figures on Wednesday showing July inflation at 7 634,8%.
Despite its staggering scale, many people said it underestimated the true situation and paled into insignificance alongside chronic food, fuel and foreign currency shortages.
The data was published after the government imposed a price freeze, which backfired and left store shelves empty.
"These inflation statistics are meaningless ... it is the height of dishonesty for them to release inflation figures only after enforcing price reductions," said Patrick Moyo, a student at a Harare college.
"What is clear, however, is it is all going to get worse."
Complaining is risky under President Robert Mugabe's crackdown on dissent. The only option for those who have had enough is to leave for neighbouring countries.
The journey can require crossing crocodile-infested rivers and there is no guarantee of a job or home at the end of it. But more and more people leave every day.
Source: Mail & Guardian Online
After a long delay, the government released official figures on Wednesday showing July inflation at 7 634,8%.
Despite its staggering scale, many people said it underestimated the true situation and paled into insignificance alongside chronic food, fuel and foreign currency shortages.
The data was published after the government imposed a price freeze, which backfired and left store shelves empty.
"These inflation statistics are meaningless ... it is the height of dishonesty for them to release inflation figures only after enforcing price reductions," said Patrick Moyo, a student at a Harare college.
"What is clear, however, is it is all going to get worse."
Complaining is risky under President Robert Mugabe's crackdown on dissent. The only option for those who have had enough is to leave for neighbouring countries.
The journey can require crossing crocodile-infested rivers and there is no guarantee of a job or home at the end of it. But more and more people leave every day.
Source: Mail & Guardian Online
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