Zimbabwe Prices Now Quoted in Liters of Gasoline
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Submitted by CARPE DIEM
Reeling from the highest inflation rate in the world, barred by the government from using U.S. dollars for purchases, Zimbabweans turned to a new money source Wednesday: gasoline coupons.
Private financial institutions say Zimbabwe’s inflation rate was about 12.5 million percent in May and estimate that it has probably climbed to 50 million percent this month.
Embattled restaurants were offering discounts of up to 80% for either U.S. dollars or local cash because of shortages of both. They also added a penalty fee of up to 80% on top of the bill for those who paid by check, estimating price rises in the five days it takes a check to clear.
