Posted by: Willie D
Zimbabwe Cookies Cost $19 Billion - 06/25/08 03:06 PM
Car battery costs $2.5 trillion
http://news.yahoo.com/s/ap/20080625/ap_on_re_af/zimbabwe_economy
Quote:
"It's gone completely crazy. Our computers and calculators can't deal with all the zeros even on the cheapest products," said Harare economic analyst David Moyo.
Brokers said this week that the Zimbabwe dollar broke the barrier of 10 billion to a single U.S. dollar in direct bank buying, while in electronic transfers, it exceeded 20 billion Zimbabwe dollars to $1 U.S.
Bread has disappeared from stores. Previously, a loaf in a supermarket cost 2 billion Zimbabwe dollars (20 U.S. cents at the official exchange rate), or 15 billion Zimbabwe dollars ($1.50 U.S.) on the black market, where prices of scarce items can vary up to 10 times higher.
A shopper lucky enough to find milk will spend 3 billion dollars (30 U.S. cents) for about 1 pint. A tray of 30 eggs, also scarce, can bought in a store for 45 billion dollars ($4.50 U.S.).
Butter is hard to find, but 17 1/2 ounces of margarine will cost 25 billion dollars ($2.50 U.S.) and a pack of 10 cookies costs 19 billion dollars ($1.90 U.S.).
Most stores and business across Zimbabwe have already knocked six zeros off price tags, showing 45,000 dollars for two pounds of scarce low grade beef — but at the cash register, it's tallied back at 45 billion dollars ($4.50 U.S.).
Moyo said a car battery was priced Monday at 2.4 trillion dollars ($240 U.S.), a tenfold increase in the past two weeks.
The largest Zimbabwean bill in circulation is a 50 billion note ($5 U.S.), while the smallest currency unit a one cent coin, which buys nothing by itself.
http://news.yahoo.com/s/ap/20080625/ap_on_re_af/zimbabwe_economy
