Final answer:
Zimbabwe experienced extreme hyperinflation, with a daily price increase of 98%, resulting in workers struggling to afford basic needs despite wage adjustments. A loaf of bread cost 550 million Zimbabwean dollars, and a month's salary for a teacher was worth only one U.S. dollar per day.
Step-by-step explanation:
The inflation rate in Zimbabwe reached extreme levels, known as hyperinflation. To illustrate, the rate of inflation was so significant that it is comparable to a daily price increase of 98%. This resulted in prices doubling every single day, leading to a situation where, despite wage adjustments, workers could barely afford basic necessities such as food and shelter.
In the context of Zimbabwe's hyperinflation, at one point, a single loaf of bread cost an unfathomable 550 million Zimbabwean dollars. The currency devalued so rapidly that the government adjusted commodity prices multiple times daily. Even teachers, who earned salaries in the trillions, found that these huge numbers translated into only about one U.S. dollar per day. Such economic conditions devastate the purchasing power of citizens, making everyday transactions a struggle for survival.