Zimbabwe inflation hits 765.57%

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Zimbabwe’s annual inflation raced to 765.57% in April from 676.39% in March on the back of an increase in the prices of goods and services, statistical agency Zimstat said Friday.

Month-on-month inflation fell to 17.64% from 26.59% in March.

Inflation is one of the key measures of the financial wellbeing of an economy. The runaway inflation affects what consumers can buy with their money. If wages don’t keep up with the high inflation, purchasing power, and standard of living falls.