Zimbabwe’s rate of inflation soars to 2,200,000%

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.

“Statistics provided by the CSO (central statistics office) indicate that it is now at 2.2 (million percent),” Gideon Gono said in a brief address in Harare ahead of a speech by President Robert Mugabe.

The figure is the first from the authorities in Zimbabwe since the announcement of the rate for February, when it was put at around 165,000%.