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Inflation in Zimbabwe continues to soar

November 12, 2008

The official rate of inflation in Zimbabwe is 230 million per cent, the world's highest, but independent analysts put the figure in billions.

It will introduce a $1 million note this week as the country tries to ease the effects of hyperinflation.

In August, the highest note was Z$100 billion. The country chopped off 10 zeroes and the highest note was Z$10.

The current highest denomination bank note is Z$50,000, not enough to buy half a loaf of bread.

The central bank plans to introduce Z$100,000, Z$500,000 and Z$1 million (about U.S.$8) notes.

Image: A vendor displays a Z$1 million at his makeshift market stall in Harare. | Photograph: Desmond Kwande/AFP/Getty Images

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