Hyperinflation looms as Zimbabwe struggles to stabilise currency
Official inflation almost doubles as economic threats remain
The spectre of hyperinflation is once more looming over Zimbabwe as its central bank struggles to maintain the stability of its currency in the face of food and electricity shortages.
Zimbabwe saw the rate of inflation almost double in the past month, evoking fears of hyperinflation that plagued the country a decade ago. The country’s inflation rate rose to 176% in June from 98% in May (see figure 1), according to figures published by the Reserve Bank of Zimbabwe.
The country has been
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