ZIMBABWE infaltion tops 2.2 million
By Wilson Watson 
HARRE, Zimbabwe- Zimbabwe’s annual rate of inflation, already the highest in the world, has topped 2.2 million mark as the economy continues to sink deeper into doldrums. The figure announced by the country’s Central Statistics Office is the first official confirmation of the state of the economy since February. All along the Government had directed CSO to stop announcing inflation figures, but independent projections had estimated that the figure had now surpassed the $10 million mark.
The unavailability of the inflation figures had resulted in a number of companies listed on the Zimbabwe Stock Exchange failing to produce inflation- adjusted results as per requirements of the local bourse. Inflation that has been described as the number one enemy of the economy has been going up since the economy in the country is virtually at stand still. The country is facing shortages of foreign currency, food, and fuel among basic requirements.
Prices of most goods are now changing on a daily basis while workers incomes continue to be eroded. Teachers body representatives have written to the Government demanding to be paid in US$ as they felt that the local currency was now worthless. The highest denomination- a $50 billion is now only worth one loaf. The same amount could buy more than four low-density houses at the time the country attained independence in 1980.
Economists have called on the Government to come up with strong measures to revive the economy. The opposition parties and the civic society have blamed the economic melt down on policies introduced by President Mugabe. Mugabe, who has ruled the country for the past 28 years, inherited a sound economy that was second only to South Africa in the region but is now the worst. Some of the policies that resulted in the economic meltdown included the controversial land reform programme that saw commercial farmers being displaced from their farmers, a situation that knocked down agriculture. Mugabe has now signed into law a legislation that compels the Government to acquire all foreign owned firms, another step that has been described as counter-productive as it will deter investors