From http://news.bbc.co.uk/2/hi/business/7509715.stm
Zimbabwe inflation at 2,200,000%
New bank notes have been issued to cope with soaring prices
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Zimbabwe's annual rate of inflation has surged to 2,200,000%, official figures have shown.
The figure is the first official assessment of prices in the troubled African nation since February, when the rate of inflation stood at 165,000%.
Zimbabwe, once one of the richest countries in Africa, has descended into economic chaos largely blamed on the policies of President Robert Mugabe.
Mr Mugabe was re-elected last month in a controversial one-man race.
The opposition party, the Movement for Democratic Change (MDC), pulled out of the run-off election, saying its supporters were being attacked and killed.
Rising costs are forcing retailers to increase prices a number of times a day for goods purchased with billion dollar bank notes and the number of people falling into poverty is on the rise.
In May, the central bank issued a 500m Zimbabwe dollar banknote, worth US$2, to try to ease cash shortages amid the world's highest rate of inflation.
This is in stark contrast with the situation at independence in 1980 when one Zimbabwe dollar was worth more than US$1.
Mr Mugabe denies that he is ruining the economy, laying the blame on international sanctions he says have been imposed against Zimbabwe.
The US and the EU have imposed targeted sanctions, such as a travel ban and an assets freeze, on Mr Mugabe and his close allies.
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http://news.bbc.co.uk/2/hi/business/7509188.stm
Eurozone inflation at record 4%
Rising fuel costs have sparked protests from hauliers
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Rises in food and energy costs pushed up inflation in the 15-nation eurozone to 4% in June from 3.7% in May.
Confirming estimates made two weeks ago, the Eurostat statistics office said the inflation rate was the highest since measurements began in 1997.
A 16% year-on-year rise in energy costs as oil prices headed above $140 a barrel was to blame, Eurostat said.
The European Central Bank (ECB) raised interest rates to 4.25% at the start of the month to try to contain inflation.
The ECB's target for inflation growth is about 2%, but rising food and fuel prices are making it difficult for the central bank to bring inflation back to this level.
At its latest meeting, the ECB increased interest rates to 4.25% from 4% - its first rise in a year - despite evidence that eurozone economic growth is decelerating.
More rate rises?
Core inflation - that is, stripping out energy and food prices - edged up to 1.8% from 1.7% last month.
This has sparked fears from some analysts that rising costs of food and fuel are beginning to filter into other prices.
For this reason, many predict further interest rate rises in the region, as the ECB steps up efforts to prevent this from happening.
"Inflation pressures may ease as the economy slows, but the process of filtering through of price rises will not be stopped by the latest ECB interest rate rise - the ECB has more work to do to dampen inflationary expectations," said Nick Kounis, an economist at Fortis.
He expects two more rate rises - one in October and another one in early 2009.
Others were less convinced, arguing that a sharp decline in eurozone growth, in addition to the high cost of borrowing and the strong euro, would dilute inflationary pressures in the coming months.
Rising prices have sparked protests among fishermen, hauliers and farmers across Europe.
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While I've got your inflation attention, why not visit my other inflation thread that quickly died last week:
http://www.vgchartz.com/forum/thread.php?id=32582
