What was Zimbabwe highest inflation rate?

The worst of the inflation occurred in 2008, leading to the abandonment of the currency. The peak month of hyperinflation occurred in mid-November 2008 with a rate estimated at 79,600,000,000% per month, with the year-over-year inflation rate reaching an astounding 89.7 sextillion percent.

How high did inflation get in Zimbabwe?

Inflation Rate in Zimbabwe averaged 82.48 percent from 2009 until 2021, reaching an all time high of 837.53 percent in July of 2020 and a record low of -7.50 percent in December of 2009.

What was the highest inflation rate ever?

Since the founding of the United States in 1776, the highest year-over-year inflation rate observed was 29.78 percent in 1778. In the period of time since the introduction of the CPI, the highest inflation rate observed was 19.66 percent in 1917.

Why is inflation in Zimbabwe so high?

The cause of Zimbabwe’s hyperinflation was attributed to numerous economic shocks. The national government increased the money supply in response to rising national debt, there were significant declines in economic output and exports, and political corruption was coupled with a fundamentally weak economy.

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How did Zimbabwe solve inflation?

A solution effectively adopted by Zimbabwe was to adopt some foreign currency as official. … In 2009, the government abandoned printing Zimbabwean dollars at all. This implicitly solved the chronic problem of lack of confidence in the Zimbabwean dollar, and compelled people to use the foreign currency of their choice.

Why is Zimbabwe so poor?

Why Poverty is Rampant in Zimbabwe

Since Zimbabwe gained its independence in 1980, its economy has primarily depended on its mining and agricultural industries. … As a result, the government began printing more money, leading to widespread hyperinflation of the Zimbabwean dollar.

Who has the worst inflation?

The 20 countries with the highest inflation rate in 2020 (compared to the previous year)

Characteristic Inflation rate compared to previous year
Venezuela 2,355.15%
Zimbabwe 557.21%
Sudan 163.26%
Lebanon 88.18%

Which country has the worst inflation?

List of countries by inflation rate

Country (or Territory) Inflation rate (consumer prices) (%) Date of information
Iceland 1.80 2017 est.
Mali 1.80 2017 est.
United Kingdom 1.80 2019 est.
Brazil 4.52 2020 est.

Which country has no inflation?

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The 20 countries with the lowest inflation rate in 2020 (compared to the previous year)

Characteristic Inflation rate compared to previous year
Qatar -2.72%
Fiji -2.6%
Bahrain -2.32%
United Arab Emirates -2.07%

When was hyperinflation in Zimbabwe?

But while the cause may be debated, the effects of the hyperinflation on Zimbabwe can be seen clearly. The first signs of it appeared in early 1999, when the monthly inflation rate was 50%. This would only exponentially worsen over the coming years, as by the end of 2003 the monthly inflation rate had reached 600%.

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How did inflation affect Zimbabwe?

Hyperinflation in Zimbabwe has had the effect of lowering GDP per capita by 38% and increasing the unemployment rate to more than 70%, which in turn has increased poverty. Zimbabwe has tried many different solutions to stabilize its inflation rate, but it still struggles with high inflation rate volatility.

When did Zimbabwe hyperinflation end?

In late 2008, the Zimbabwe dollar was replaced in transactions by widespread dollarization amid hyperinflation. The official demise of the currency occurred in February 2009, when authorities established a multicurrency system.

What is a 100 trillion Zimbabwe dollar worth?

The 100 trillion Zimbabwean dollar banknote (1014 dollars), equal to 1027 pre-2006 dollars.

How much is a loaf of bread in Zimbabwe?

WARNING!

Food
0.5 l (16 oz) domestic beer in the supermarket $0.65
1 bottle of red table wine, good quality $11
2 liters of coca-cola $2.03
Bread for 2 people for 1 day $0.64

How much is a dollar in Zimbabwe?

Convert US Dollar to Zimbabwean Dollar

USD ZWD
1 USD 361.9 ZWD
5 USD 1,809.5 ZWD
10 USD 3,619 ZWD
25 USD 9,047.5 ZWD