Inflation in Zimbabwe soars to all-time high of 782 percent

HARARE, Zimbabwe – Like something out of pre-war Germany, inflation has shot out of sight in Zimbabwe.

Trade unions in that African nation say the average worker is making the equivalent of 50 to 60 U-S dollars a month, but needs 90 just to meet basic food needs.

Zimbabwe’s office of statistics said today that inflation in the past 12 months soared to an all-time high of 782 percent. State radio says prices rose by more than 27 percent in February alone.

Despite predictions of shortages of fuel, seed, fertilizer, chemicals and farm machinery that works, the government is still forecasting a bumper harvest this year. It predicts inflation will drop to 200 percent by the end of the year.

AP