Inflation To Reach 400% By Year-end - Biti
5 years agoWed, 24 Apr 2019 18:13:55 GMT
Former Minister of Finance and Economic Development, Tendai Biti claimed that Zimbabwe’s rate of inflation will be 400 per cent by year-end.
Biti’s claim follows rampant prices increases which follow that depreciation in value of the RTGS dollar on the alternative market.
Most retailers recently hiked prices of goods leaving the consuming public in dire straits. Writing on social media, Biti said:
The official rate of inflation is now 66% but those trekking the day to day movement of prices will tell you that it is 270%.
In 10 years this regime has taken us through 2 vicious cycles of disequilibrium. It doesn’t need the genius to foresee that year-end inflation will be 400%.
Related:
-
New Currency Announcement Undermines Confidence – ANALYSTS
-
Biti Condemns Maize Producer Price Controls
-
FULL THREAD: Biti Slams Voodoo Economics, Demands That RTGS$ Be Scrapped
-
Govt Will Raid Foreign Currency Accounts: Tendai Biti Warns
-
Biti Calls Mangudya, Mnangagwa Highway Robbers And Bandits
