Zimbabwe's annual inflation rate hit 175 per cent in June, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed. In a statement, the Zimbabwe National Statistical Agency said the year-on-year inflation rate for the month of June as measured by the all items consumer price index stood at 175.66 per cent while that of May was 97.85 per cent. <br />''<br />''Official inflation is the highest since hyperinflation forced the government to abandon the Zimbabwe dollar in 2009. The US dollar has been the national currency since 2009. Supplies of essentials such as bread, medicine and petrol are regularly running short in the country.<br />''<br />''Millions of Zimbabweans have fled abroad in the last 20 years seeking work. Many others are now seeking to leave as conditions worsen under President Emmerson Mnangagwa, who had promised an economic revival after he succeeded long-ruling Robert Mugabe in 2017. <br />''<br />''Mnangagwa vowed to end the country's international isolation, attract investors and create growth that could fund the country's shattered public services. But the economy has declined further, with shop prices rocketing and long power cuts.<br />