Zimbabwe struggles to control inflation

BULAWAYO, Zimbabwe, Oct. 19 (UPI) -- Food riots and stampedes plague shop owners in Zimbabwe as the government struggles to control an inflation rate of around 7,000 percent.

Police and government officials ordered market prices cut by 50 percent or more to curb what one consumer called a “runaway economy” with a “worthless currency,” Voice of America reported.

The VOA report noted that a jar of coffee costs more than 1 million Zimbabwe dollars -- roughly $2 in U.S. dollars.

The government claimed the economic crisis is the work of “economic saboteurs” and issued arrest orders for business owners who failed to comply with orders to slash prices.

Consumers rushed shops after the price cuts were enacted, resulting in riots and stampedes. Two people died during a stampede to get sugar, VOA reported.

The situation seems to be self-defeating, as shop owners aren't generating enough revenue to restock shelves, firing further inflation as demand outpaces supply.

Shop owners accuse police officials and general confusion is making matters worse. The government, however, claims the efforts are a success, Voice of America said.