20 August 2008

Think you got inflation issues?

Let's face it; we do have a problem in Bahrain with rising food prices. We do have a problem with rising land and property priced. We have a problem with a lot of things rising in prices, making life for your ordinary average person a little more difficult.

So what's causing it? Increased demand for food supply world-wide? Increased gas prices? An overheating economy? Dollar linked currency?

Well, whatever it is, it sure as hell doesn't compare to what's going on in Zimbabwe, so you can sit there and thank the lord that the cost of your bread has only gone up by like, 50 fils or whatever:

Zimbabwe inflation hits 11,200,000 percent

HARARE, Zimbabwe (CNN) -- Zimbabwe's inflation rate has soared in the past three months and is now at 11.2 million percent, the highest in the world, according to the country's Central Statistical Office.

Official figures dated Monday show inflation has surged from the rate of 2.2 million percent recorded in May, despite the government's price controls.

The country's finance minister confirmed the new figure in an interview but said the rising inflation rate was not confined to Zimbabwe alone.

"While our case has been aggravated by the illegal sanctions imposed by the Western powers, rising food prices are a world phenomenon because of the use of bio-fuel," said Samuel Mumbengegwi. "But we will continue to fight inflation by making sure that prices charged are realistic."

In February, the price of a loaf of bread in the country was less than 200,000 Zimbabwe dollars. On Monday, that same loaf of bread cost 1.6 trillion Zimbabwe dollars.

Analysts have said the Zimbabwean government's official inflation rate figures are conservative. Last week, one of Zimbabwe's leading banks, Kingdom Bank, said the country's inflation rate was now more than 20 million percent.

Source: CNN

That's pretty screwy. But hey, at least they can say everyone's a millionaire, no?


Grey said...

I would make " Business card " on those .. wait .. some one already did that , and the ZImbabwe cops are looking for him .

Mugabe sucks !so does the International community which is just watching .

david santos said...

Bahrain, congratulations!!!!
"08-08-08" Olympic Games!!!!

Shionge said...

Hey that's a lot for just a loaf of bread ya..let me do a conversion now ;)

KJ said...


Dr. Shale bin Agnon said...

seigniorage. that guys is such a crooked bastard.