Bookmark Jamaica-Gleaner.com
Go-Jamaica Gleaner Classifieds Discover Jamaica Youth Link Jamaica
Business Directory Go Shopping inns of jamaica Local Communities

Home
Lead Stories
News
Business
Sport
Commentary
Letters
Entertainment
Flair
International
The Star
E-Financial Gleaner
Overseas News
The Voice
Communities
Hospitality Jamaica
Google
Web
Jamaica- gleaner.com

Archives
1998 - Now (HTML)
1834 - Now (PDF)
Services
Find a Jamaican
Careers
Library
Power 106FM
Weather
Subscriptions
News by E-mail
Newsletter
Print Subscriptions
Interactive
Chat
Dating & Love
Free Email
Guestbook
ScreenSavers
Submit a Letter
WebCam
Weekly Poll
About Us
Advertising
Gleaner Company
Contact Us
Other News
Stabroek News

Whew, 24,000% inflation! 600% pay hike drop in the bucket
published: Monday | January 7, 2008

HARARE, Zimbabwe (AP):

Zimbabwe's government granted magistrates and state prosecutors, whose strike since October has crippled the court system, pay increases of up to 600 per cent, the official media reported yesterday.

The award came days after the state Prices Commission said it would allow private schools to raise their fees by 600 per cent at the beginning of the new school term amid soaring prices of utilities, local taxes and all general goods.

Neither increase, however, would go anywhere near matching inflation, which is officially 8,000 per cent.

No official figures

No official figures have been released since September, with the state statistical office saying there were not enough goods in shortages-stricken stores to update inflation calculations on the standard basket of essentials.

But central bank officials acknowledged their own informal estimates put inflation in December at around 24,000 per cent, up from 8,000 per cent in September.

Independent evaluations by banks and financial institutions have listed real inflation on foodstuffs alone closer to 150,000 per cent. The International Monetary Fund had forecast overall inflation reaching 100,000 per cent by the end of 2007.

From immediate effect, junior magistrates' and prosecutors' monthly earnings were raised from about 20 million Zimbabwe dollars to about 316 million Zimbabwe dollars, the state Sunday Mail newspaper reported.

It said the raises were included in package salary reviews for government employees approved by the Public Service Commission, the government's employment body. Accompanying hikes in general allowances brought the increases to around the 600 per cent mark for both junior and senior judicial officials.

More International



Print this Page

Letters to the Editor

Most Popular Stories






© Copyright 1997-2008 Gleaner Company Ltd.
Contact Us | Privacy Policy | Disclaimer | Letters to the Editor | Suggestions | Add our RSS feed
Home - Jamaica Gleaner