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Zimbabwe Hyperinflates, Again: The 58th Episode of Hyperinflation in History

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  • Hanke, Steve

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

  • Bostrom, Erik

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

In 2008, Zimbabwe suffered the second mostsevere episode of hyperinflation in recorded history (Hanke and Krus, 2013). As shown in the table below, Zimbabwe’s annual inflation rate peaked in November 2008, reaching 89.7 sextillion (10^21) percent (Hanke and Kwok, 2009). Prices were doubling every 24.7 hours. Well, Zimbabwe is experiencing hyperinflation again today. Zimbabwe’s annual inflation rate is currently at 313 percent. During Zimbabwe’s hyperinflation episode (2007‐2008), the Reserve Bank of Zimbabwe failed to report any meaningful economic data, including inflation rates. One of us (Hanke), assisted by a capable research team at The Johns Hopkins University, was the only source of accurate inflation rate measurements during that hyperinflation episode.

Suggested Citation

  • Hanke, Steve & Bostrom, Erik, 2017. "Zimbabwe Hyperinflates, Again: The 58th Episode of Hyperinflation in History," Studies in Applied Economics 90, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0090
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    Cited by:

    1. Ademir Rocha & Cleomar Gomes da Silva & Fernando Perobelli, 2022. "The New Economic Geography and labour emigration: Analysing Venezuela's hyperinflation episode," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(1), pages 175-202, January.
    2. Ademir Rocha & Cleomar Gomes da Silva & Fernando Perobelli, 2020. "Inflation and Labor Migration: Modelling the Venezuelan Case," Working Papers, Department of Economics 2020_05, University of São Paulo (FEA-USP).

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