Central bank officials have said they would seriously consider raising rates if inflation hit 5 percent.

The power was only on three days a week and inflation hit 28pc.

The fund now estimates that inflation could hit 47 percent this year.

At the time of the survey, the latest official data showed inflation had hit 5.2pc.

And then money started to run short at the same time as inflation hit big-time.

The action followed two days of sharp declines on the stock market and the news that inflation had hit its highest level ever, 141 percent.

Mexico's inflation hit a record 105.7 percent for all of 1986.

Few in the venture world seem to doubt that inflation has hit the industry.

It is quite right to do this, as inflation would hit those on middle and lower incomes particularly hard.

Economists are predicting that Chinese inflation will hit 6.7pc this month.