Bike price hikes lead to African inflation spike

Zimbabweans frustrated by chronic fuel shortages have been jumping on their bikes instead, reports Reuters.

The Zimbabwe Central Statistics Office said on Thursday that the 1838 percent inflation in the bicycle market pushed overall annual inflation last month to 411 percent.

A Harare bicycle dealer told Reuters:

"We are selling more bicycles now than before. Most people who come here do not complain about the prices, they believe it is a worthwhile investment."