New Inflation stories

From Bloomberg, 16 November: Zimbabwe's inflation soars to 14,841% on food, fuel

By Brian Latham

Zimbabwe's inflation soared to 14,841 percent last month as food and fuel shortages deepened a crisis in the world's fastest-shrinking economy. Inflation accelerated from 7,982 percent in September, said an official at the Central Statistical Office in the capital, Harare. There are so few goods left in shops that it has become impossible to ensure the data's accuracy, said the official, who declined to be named in line with the agency's policy. (...)

From The Times (UK), 17 November: Cash runs out in land where the bus fare is 1.6 m dollars

Other countries stricken by hyperinflation have coped by printing vast quantities of banknotes with rapidly increasing numbers of zeroes. In Zimbabwe, however, the phenomenon of "Mugabenomics" has delivered a three-headed monster - exponentially rising prices, a critical cash shortage, because the Government regards adding new rows of zeroes on the banknotes as an admission of defeat, and virtually nothing to buy in the shops because price controls have destroyed the retail trade. The Z$200,000 (7p) note, the highest, has almost disappeared. (...)

From The Zimbabwe Independent, 16 November: $1 million note on the way as cash crisis worsens

Paul Nyakazeya

Cash shortages worsened this week amid speculation that the Reserve Bank of Zimbabwe was working on plans to introduce higher denominations of bearers' cheques. Businessdigest understands that the central bank is finalising the introduction of $500 000 and $1 million notes. The new bearer's cheque notes are likely to be introduced early next month. (...)