Zimbabwe’s old enemy – triple digit inflation – is back, after annual inflation doubled to almost 176% this month
Consumer groups say the average family needs about 1m Zimbabwe dollars ,$150 for food alone every month, as prices rise almost daily.
Most people are struggling to afford groceries or are skipping meals according to the NGO Action Aid.
The Zimbabwean government blames currency speculators for the crash of the Zimbabwe dollar – which has lost more than 90% of its value since January.
The Zimbabwean government blames currency speculators for the crash of the Zimbabwe dollar – which has lost more than 90% of its value since January.
The US dollar is also legal tender and most people prefer it, thus causing the local currency to lose value.
The government recently directed authorities to impose some duties and taxes exclusively in local currency in the hope that it would increase demand for the beleaguered Zimbabwe dollar.