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Government Summons Industry Heads Over Price Surge in Zimbabwe

A makeshift market in Mbare, Zimbabwe, on Feb. 8.

A makeshift market in Mbare, Zimbabwe, on Feb. 8.

Photographer: Tafara Mugwara/Xinhua/Getty Images

Zimbabwe’s Industry & Commerce Ministry summoned the heads of more than a dozen business associations to discuss surging prices.

The southern African nation’s statistics agency announced on Wednesday that the annual inflation rate jumped to almost 132% in May -- the highest level in a year.