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Zimbabwe has second highest inflation in the world

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The International Monetary Fund (IMF) has ranked Zimbabwe as having the second highest rate of inflation in the world in 2019.

Zimbabwe’s currency the RTGS$ has been losing value and on Tuesday afternoon was trading at around $ 100 = RTGS720 against the United States dollar on the parallel market.

Businesses have been pegging prices against the volatile black market exchange rate, making the prices jittery over the past few months.

Finance and Economic Development minister Mthuli Ncube is however adamant that inflation can be tamed and told Parliament this week that he sees the inflation rate going down by year end.

1.    Venezuela: 10,000,000% 

2.    Zimbabwe: 73% 

3.    Sudan: 49% 

4.    Argentina: 43%

5.    Iran: 37% 

6.    South Sudan: 24%

7.    Liberia: 22% 

8.    Yemen: 20% 

9.    Angola: 17%

10.    Turkey: 17% 

11.    Uzbekistan: 16% 

12.    Sierra Leone: 15% 

13.    Libya: 15% 

14.    Haiti: 14% 

15.    Egypt: 14% 

16.    Nigeria: 11% 

17.    Zambia: 10% 

18.    Ethiopia: 9%


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