THE annual rate of inflation in Zimbabwe, already the highest in the world, has hit a new record level of 2.2 million percent, the central bank’s governor revealed.

Zimbabwe is now so short of consumer goods, the government announced today that it is unable to calculate the level of hyper-inflation strangling the economy.

Zimbabwe's inflation, already the highest in the world, hit a new record of 1,193.5% for the year to May, the government’s Central Statistical Office said today.

Zimbabwe’s annual inflation rate has exceeded 1,000% for the first time, state radio reported today.