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Friday, November 7, 2008

An Update on Zimbabwe Hyperinflation

As Hyperinflation gets more and more out of control in that country as the two opposing political factions can't (won't in the case of Mugabe) move forward with a governing agreement, the deviation of estimates regarding exactly what that country's inflation rate is has, well, inflated:

Is it 231,000,000%

or could it be 2,790,000,000,000,000,000%

The reports are 3 weeks apart. 3 weeks is a lifetime regarding hyperinflation.

Of course, this is an example of statistical vs. economic significance. Regardless of the actual statistic, the economic situation likely wouldn't be much different: it's in the crapper in any case.


Mike said...

Well as you put it, it's a numbers game. No matter what number you put as the inflation figure it's never going to be correct because no one wants the truth. If you've checked the last HHIZ, you will have seen the estimate at 89.7sextillion percent. Now that's a number that is very difficult to fathom elsewhere in the world but to Zimbabweans, it's a normal figure. I know a few individuals and companies who have had sextiliions pass through their accounts.

As you've probably guessed by now, I'm a Zimbabwean currently living the Zimbabwean way.

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