Economics

Prices in Zimbabwe once roughly doubled every single day for months

By November 2008, Zimbabwe's monthly inflation rate hit an estimated 79.6 billion percent, meaning prices roughly doubled every 24 hours. The central bank printed a 100-trillion-dollar note that, by the time it circulated, could barely cover a bus fare. The country abandoned its own currency entirely in 2009, adopting the US dollar and other foreign currencies instead.

Steve H. Hanke and Alex K. F. Kwok, On the Measurement of Zimbabwe's Hyperinflation — Cato Journal, Vol. 29, No. 2, 2009

One credited idea per card. No filler. Swipe the rest in Savvy.

Keep swiping — it's free Works right in your browser. No app store needed.