Hyperinflation threatens to return to Zimbabwe

Reserve Bank of Zimbabwe
A bond note, which once ostensibly traded at par with the US dollar
Baynham Goredema

The spectre of hyperinflation is once more looming over Zimbabwe as the central bank struggles to maintain the stability of the currency in the face of food and electricity shortages.

Zimbabwe saw the rate of inflation almost double in the past month, evoking fears of hyperinflation that plagued the country a decade ago. The country’s inflation rate rose to 176% in June from 98% in May (see chart 1), according to figures published by the Reserve Bank of Zimbabwe.

The country has been suffering

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