Zimbabwe’s annual inflation rate soared to almost 840% in July, the national statistics agency said on Saturday, adding to the country’s desperate economic woes.
The southern African nation has been grappling with more than a decade of hyperinflation triggered by economic mismanagement under former president Robert Mugabe, who was ousted by a military coup in 2017.
Many Zimbabweans have seen their savings evaporate and still struggle to afford basic commodities such as sugar and the staple cornmeal.
The figures were published just as the government issued a statement saying President Emmerson Mnangagwa had implemented policies “that result in a robust economy” and had kept the country “commendably stable”.
Published in The Express Tribune, August 16th, 2020.
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