'Businesses Should Not Increase Prices Based On Exchange Rate', Says Government

The government has said that it is not right for companies to increases prices based on the exchange rate. In her briefing after cabinet yesterday, Information, Publicity and Broadcasting Services Minister, Monica Mutsvangwa, said that government had noticed that businesses are raising prices based on exchange rate. The proper way, said the government, is for businesses to use the inflation rate.

Said Mutsvangwa:

A lot of our industry suppliers of goods and services in the country are raising prices because of the exchange rate on the market which is not the right way to do it. The correct approach is to ground price increases on inflation trends not the exchange rate.

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More: The Herald