July 17, 2008

MFUMUKO WA BEI ZIMBABWE NA USA

LINGANISHA MIFUMUKO YA BEI YA NCHI HIZI MBILI YA JANA AMBAYO YOTE WANADAI NI KUBWA KULIKO KIPINDI CHOCHOTE NA UTOE MAONI YAKO. ZIMBABWE INFLATION HITS 2.2MILLION PERCENT HARARE — Zimbabwe's inflation rate, already the world's highest, hit an astronomical 2.2 million percent Wednesday after Robert Mugabe's re-election in a one-man poll critics had said the nation could ill afford. After months of silence on the inflation rate, central bank governor Gideon Gono let slip it was well into seven figures as he rejected suggestions by a leading economist that it was in reality many times higher. "Statistics provided by the CSO (central statistical office) indicate that it is now at 2.2 (million percent)," Gono said in a brief address in Harare ahead of a speech by Mugabe, the country's 84-year-old president. The figure is the first from the authorities in Zimbabwe since the announcement of the rate for February, when it was put at 165,000 percent. afp

UKISTAAJABU YA MUSA UTAONA YA FILAUNI

NEW YORK - Inflation accelerated in June to its fastest rate since the aftermath of Hurricane Katrina in 2005 while workers' earnings slumped, compounding the stagflationary dilemma facing the Federal Reserve. A separate report showed U.S. homebuilder sentiment dropped to a record low in July, a reminder of the troubled housing market's drag on the economy, while the minutes from the Fed's latest policy meeting highlighted increasing worries over inflation amid an uncertain outlook for growth. The consumer price index, the government's key measure of inflation, advanced 1.1 percent during the same month, the biggest monthly rise since September 2005, when devastation from Hurricane Katrina drove energy prices up sharply.
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