The FINANCIAL — According to APA-Economics, Zimbabwe posted inflation at a record high of 26,471 percent in November which is the highest in the world, said Reserve Bank of Zimbabwe Governor Gideon Gono.
"The economy is estimated to have declined by about six percent in 2007. This contraction in economic activity has been mirrored in an output decline in all sectors of the economy, with the exception of a marginal increase in agricultural output," Gono said in a statement.
The last inflation data to be released was in September where year-on-year inflation rose to 7 982,1 percent from 6 592,8 percent.
Dr Gono acknowledged that these levels are "too high", adding that the central bank is taking "drastic" measures to contain any further excessive growth.
Either way, Zimbabweans still face the daily misery of chronic shortages of food, fuel, foreign currency and, more recently, water and electricity.
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