Sunday, 20 July 2008
Worried about inflation?
Spare a thought for the people of Zimbabwe... I've just read that a bank-note worth Z$100bn is about to be introduced in response to rampant inflation - but here's the amazing thing... the note will barely cover the cost of a single loaf of bread. Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has now reached levels in excess of 2,200,000%. Independent economists believe the real rate is many times higher. So, while we're all moaning in the UK about the downturn in our economy, and the impact of the so-called "credit crunch", let's spare a thought for those who really are facing financial difficulties and real hardship.
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