Accounting, Business, Business Studies & Economics – Mr. Hannon, St. Gerald's College, Castlebar, Co. Mayo, Ireland.
Hyperinflation continues in Zimbabwe as the inflation rate hits 11.2 million per cent, the highest in the world.
Prices in stores change by the hour and the country’s currency continues to fall in value. Basic food items such as bread cost millions of dollars.
Watch the following video on Zimbabwean inflation. Unfortunately, this WordPress.com video is blocked in schools by the NCTE.
Here’s an excellent graphic from the New York Times on how they measure inflation in the USA. They also use a Consumer Price Index and measure 84,000 prices in 200 categories every month. You can see from the Pie Chart that TV sets recorded the biggest price fall from March 2007 to March 2008.
Can you find the percentage change in the price of Fuel Oil?
Hyperinflation continues in Zimbabwe. Now they can no longer measure inflation as there aren’t enough goods left in shops.
They have also issued a $750,000 note.
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