Deputy Minister for Information and Publicity, Energy Mutodi claimed that Professor Steve Hanke’s year-on-year inflation figures are misleading and need to be ignored. Said Mutodi:
Prof. Steve Hanke’s year-on-year inflation figures are misleading and need to be ignored as they are calculated using a flawed Capital Asset Pricing Model (CAPM). Otherwise, our month-on-month inflation is very low.
However, in response, the applied economist at the Johns Hopkins University in Baltimore, Maryland, Hanke said that Mutodi’s ignorance is breathtaking. He wrote:
ADeputy Minister Dr Energy Mutodi claims that my inflation estimates are based on a Capital Asset Pricing Model. The Dr.’s ignorance is breathtaking. An official lie and another reason are unfortunately kept in place. Lying is bad.