Inflation rate up again

Zimbabwe's annual inflation rate, one of the highest in the world, has reached 622.8 percent after dropping to 598.7 percent in December. Inflation resumed an upward trend of 2.5 percent at the end of January. Economist John Robertson attributed the rise to higher costs for education, property taxes and rent. "Municipalities across the country are virtually bankrupt and have had to resort to increasing the rates and rent by 97 percent." According to government statistics, school fees have increased by 95 percent, "but some schools are advertising an increase of almost 400 percent", Robertson said. Food prices in general have continued to rise - figures released this week by the government-run Central Statistical Office indicated that the cost of cooking oil had gone up by 808 percent, the cost of bread and cereals had risen 10 percent, and milk is now 21 percent more expensive than it was in December.