After Zimbabwe's statisticians rested for a few months from coming out with monthly inflation rates as the figures represented non-existing commodities, the year-end report showed the African country's inflation rate had peaked at an all time high. According to the Central Statistical Office, Zimbabwe's December inflation hit 66,212 percent.

It was almost triple the November inflation rate of 26,741 percent. The higher prices were felt on food and non-alcoholic beverages which zoomed by 79,412 percent on the last month of 2007, versus price increase by 58,493 percent for non-food items.

The hyper inflation rate is another hurdle for Zimbabwean President Robert Mugabe who has been trying to pull the impoverish African nation out of the rut.

According to Callisto Jokonya, president of the Confederation of Zimbabwe Industries, the country's industries require $2 billion fresh capital to be able to restart their enterprises and business-friendly policies. Specifically, Jokonya called for the removal of price controls and sought the availability of foreign currency to import raw materials.