Inflation returns to haunt Zimbabwe

The price of bread almost doubled for Zimbabweans last week, as the inflation nightmare that marked the rule of long-time authoritarian leader Robert Mugabe returns to haunt his successor Emmerson Mnangagwa.

There have been warnings of the mental and physical toll the rampant price increases will have on Zimbabweans after the cost of a loaf of bread rose from $1.80 to $3.50, and a tub of butter shot up to $17 from $8.50. Mnangagwa pledged to revive his country’s moribund economy when Mugabe was toppled in 2017 after 37 years in power.

But after the central bank unveiled a new monetary policy in February, introducing a new local currency, prices of goods and services have skyrocketed at rates unseen in a decade.

 

Inflation returns to haunt Zimbabwe

The price of bread almost doubled for Zimbabweans last week, as the inflation nightmare that marked the rule of long-time authoritarian leader Robert Mugabe returns to haunt his successor Emmerson Mnangagwa. There have been warnings of the mental and physical toll the rampant price increases will have on Zimbabweans after the cost of a loaf of bread rose from $1.80 to $3.50, and a tub of butter shot up to $17 from $8.50. Mnangagwa pledged to revive his countrys moribund economy when Mugabe was toppled in 2017 after 37 years in power. But after the central bank unveiled a new monetary policy in February, introducing a new local currency, prices of goods and services have skyrocketed at rates unseen in a decade.