The rate of inflation from September to October rose another 135 percent despite President Robert Mugabe's statements that "Zimbabwe will not collapse, now or in the future," The Times of London reported Saturday.

The staggering rate, referred to as "Mugabenomics," caused a significant cash shortage and rising prices, devastating retail trade.

Banks Friday limited cash withdraws to 10,000 ZWD, or about 33 cents in U.S. currency.

Cash itself is in such short supply it is being trade at 20 percent of its face value for fuel and food, the Times said.