Zimbabwe: Flawed Policy Driving Inflation

opinion

HAVING gone through hyperinflation, Zimbabweans are no doubt acutely wary of even the slightest hint of any acceleration in prices. Although current inflation is nowhere near the mind-boggling 90 sextillion percent reported at the peak of hyperinflation in late 2008, prices have begun increasing at a faster rate than expected, bringing into doubt the achievability of the official target of 4,5% annual inflation.

Disappointingly, the major inflation drivers this year have been flawed policy decisions regarding public sector spending and import duties.

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