Zimbabwe inflation hits record 7,634.8%

Zimbabwe's annual inflation rate leapt to a new record 7,634.8 percent in July, the first official prices data to be published for three months showed yesterday.

The country is in its eighth year of recession marked by chronic shortages of fuel and foreign currency, unemployment of more than 80 percent and the world's highest inflation rate.

The Central Statistical Office (CSO), which had not published price data since the April figures, said that inflation was 7,251.1 and 4,530 percent in June and May respectively.