Zimbabwe’s inflation rate hits 290%

Political analyst, David Moore, says Zimbabwean President Emmerson Mnangagwa’s credibility is diminishing – as tensions continue to rise over inflation rates and a hike in fuel prices.

Violent protests erupted earlier this month following a massive hike in fuel prices.

Economists say Zimbabwe’s inflation rate has hit 290% – the second highest in the world after Venezuela. Inflation is being driven mostly by the shortage of foreign currency.

Moore says government has allocated buses for people to travel in – after the price of fuel skyrocketed, which resulted in the halting of other transport services.

“Mnangagwa was supported to a large extent by many when they got rid of Mugabe but that respect diminished very quickly when demonstrations came out in January and at least 12 people were killed. We are seeing more and more reports of soldiers looting, raping. Today, you get on buses which are run by the army as the prices were going up for the kombis there. Now they have control of these buses and charging cheaper rates. People are put on them like the military does and the buses don’t really know where to go; so it takes hours where you want to go.”

Click on interview below