World’s Highest Inflation Rate = 100,000%
Submitted by CARPE DIEM
A US $100 bill in Zimbabwe now buys 20kg (44 pounds) of local currency, as Zimbabwe’s currency tumbled to a record low of 25 million Zimbabwe dollars per USD. Zimbabwe has the world’s highest inflation rate of 100,000%.
What happens when you have 100,000% inflation? Zimbabwe has had a 51% fall in agricultural output between 2000 and 2007, a 47% fall in industrial output, and a 35% fall in resources output. Over the same period, GDP per capita has fallen by more than 40%.
Now THAT’S stagflation!
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