Zimbabwe has been experiencing a price influx over the past few months with inflation rising from 60.6% in January to 96.4% in April.
United States economist Steve Hanke, however, says Zimbabwe currently has the highest inflation in the world at 256%. He estimated it at 97.3% in December though it soared to 340% in February.
The Zimbabwe dollar has dropped from $112.82 against the United States dollar in January to $258.54 yesterday.
The black market rate ranges from $360 to $420.
Here is what Mathe said:
HON. MATHE: Thank you for the time that you have given me Mr. Speaker. At the same, time welcome back home, having been away for a while.
Mr. Speaker, Sir, I have stood up on a point of national interest. I am happy as a representative of the people that the Government of Zimbabwe has since realised hardships being faced by citizens – that is the high prices of basic commodities. I therefore, commend the Government of Zimbabwe being led by His Excellency, Dr. E.D Mnangagwa.
We are grateful to him and his Cabinet, he has realised that people are having a hard time. I visited a certain shop and I will not mention its name, I picked an item for $899.00, when I reached to the till, the price had changed to $1400. This indicates that people are facing economic hardships.
We are very grateful for the leadership, may the good Government continue to look after its own people.
(178 VIEWS)
This post was last modified on May 18, 2022 7:23 pm
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