Tuesday, December 09, 2008
By Steve H. Hanke
Zimbabwe’s suffering citizens are caught up in the 21st century’s first hyperinflation. In March 2007 Zimbabwe’s inflation rate passed 50% a month, a good threshold for defining "hyperinflation" and equal to 12,875% a year. The cause of the hyperinflation is a government that forces the Reserve Bank of Zimbabwe to print money.