HARARE, Zimbabwe - Zimbabwe inflation, already the highest in the world, hit a new record of 1,193.5 percent for the year to May, the government's Central Statistical Office said Saturday.
Massive surges of up to 11,000 percent in medical expenses and 5,000 percent in postal fees contributed to the figure, along with steep increases for transport, water and electricity, office director Moffat Nyoni told state-run radio.
Zimbabwe's economy has collapsed since the government began seizing thousands of white-owned commercial farms for redistribution to blacks in 2000 - an often-violent campaign that has crippled the key agriculture sector. The country has also suffered years …
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