Zimbabwe's inflation rate crosses 1,000 percent threshold

Zimbabwe said on Friday its inflation rate had crossed the 1,000-percent threshold and was currently at 1,042.9 percent, one of the highest in the world.
The Central Statistical Office said the year-on-year inflation rate in April was 1,042.9 percent, up 129.3 percentage points from March.
"This means that on average goods and services normally purchased by households for final use in Zimbabwe were about 11 times as expensive in April 2006 as they had been 12 months before," Moffat Nyoni, the CSO's acting director told a news conference.
"A bundle of goods and services that cost 100,000 Zimbabwean dollars in April 2005 would on average cost 1,142 million dollars in April 2006," he said.