The Cost Of A Beer In Zimbabwe

Rabid inflation causes prices to skyrocket.

Richard Byrom

While here in the U.S., we are battling what economists call "deflation," or the devaluation of the dollar, our friends in Zimbabwe have a different problem. For a number of reasons, their monetary system has undergone massive inflation over the past couple years -- to a disastrously high degree.

The picture above was taken at Country Club bar in Zimbabwe on November 24th, 2007. At that time, a single beer would put you back Z$1 million. According to the photographer, Richard Byrom, the bar patron had been to the bank and was supplied with their remaining $500 bills. In case your math is rusty, that comes out to 250,000 notes for one cold, frosty ale.

We still think paying $8 for a Budweiser is highway robbery, but it's nothing compared to this.

Geoffrey Gardner

Tags: Zimbabwe | beer price | inflation

12:15 PM ET | 12-16-2008 | permalink

comments | | e-mail