Thread: "How much is that ............?"

ANNUAL inflation for May galloped to 1 700 000% as the Zimbabwean
dollar continued to crash causing prices of goods and services to skyrocket.

A top official in the Ministry of Finance told businessdigest that
government has now forecast the figure to reach between 1 800 000% and 2 000
000% for the month of May.

May inflation rose by 961 396 percentage points from the April figure
of 732 604% to 1 694 000%.
The 1 694 000% was for the CSO’s inflation computations for the period
from May 1 to May 23.

Non-alcoholic beverages and cereals continued to be the major drivers.

The official said the Central Statistical Office (CSO) had been
conducting weekly computations of inflation for the entire month of May.

“They have computed weekly moving averages on the figure,” the
official said.

“Last week the figure was 1 694 000% and this week we expect it to hit
2 000 000%. We will only know next week when they compile data for this
final week of May.”

The annual inflation figure for March stood at 355 000% while that for
February was 165 000% but the CSO insists that even these figures were not
official.

“As government, our reasonable approximation for June now stands at
not less than 4 000 000% and not more than 5 000 000%,” the official said.

The weekly moving inflation figure for the first week of May was 1 200
000% according to the source.

Economists and the business community said they believed inflation for
May would end the month closer to 2 000 000%.
“It is impossible for inflation to end the month at less than 2 000
000%,” said businessman David Govere.
“Our calculations show that inflation has already surpassed 1 600 000%
in recent weeks.”

Economist John Robertson said his estimates for May year-on-year
inflation had been 1 800 000%.
“My projections had placed inflation at 1 800 000% for May,” Robertson
said. “It seems I was not far off the mark.”

A loaf of bread which was selling for $180 000 earlier this year is
now going for around $280 million in most shops. It is going for between
$400 million and $450 million on the black market. A 2kg packet of sugar
which was pegged at $7 million is now selling for $700 million.

A kilogram of meat which was at $30 million is now selling for between
$1,5 billion and $2,5 billion.

A 750 grammes bar of soap which at the beginning of the year was $2
million now calls for one to fork out $1,8 billion. In January, a packet of
fresh milk was selling at $1,3 million. The same packet now sells for $190
million, while a kilogramme of salt which was selling for less than $2
million is now pegged at $440 million.

The Zimbabwean