Paranoid authoritarians make bad economists

Zimbabwe's President, Robert Mugabe, has proven this rule in spades.

HARARE (Reuters) - Zimbabwe's inflation rate has leapt to a record high, official data showed on Wednesday, raising pressure on President Robert Mugabe to ease an economic crisis that foes hope will weaken the veteran leader.

Zimbabwe's inflation -- already the highest in the world -- hit 7,634.8 percent in July, reminding Zimbabweans there is no relief in sight from daily hardships including chronic food, fuel and foreign currency shortages.

Mugabe has accused some businesses of raising prices without justification as part of a Western plot to oust him.

He launched a blitz on inflation by ordering businesses to freeze prices in late June. But the move exacerbated shortages, leaving shop shelves empty. The government eased some restrictions on Wednesday.

Mugabe continues to pursue policies that will drive this country over the economic cliff. A few years ago, Zimbabwe was the breadbasket of southern Africa. Now, it cannot even feed itself.