Zimbabwe has been dealing with hyperinflation for many months now, but the increase in the consumer cost of living accelerated enormously in October to 14,841%, compared with 7,982%, for the 12 months through September.
The latest inflation data was leaked from the Central Statistical Office, whose director, Moffat Nyoni, said he could neither confirm or deny the information. Prices were up 136% in October alone, Harare's Independent newspaper reported.
Zimbabwean economist and finance specialist Lance Mambondiani, based in London, told reporter Blessing Zulu of VOA's Studio 7 for Zimbabwe that the latest surge will deliver a severe blow not only to consumers but businesses as well.
More reports from VOA's Studio 7 for Zimbabwe...
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