The president of the Confederation of Zimbabwe Retailers, Denford Mutashu, has attributed the reduction in retail volumes to the recent price increases against low incomes.
Mr. Mutashu lamented:
The volumes of products pushed by the sector have declined owing to low disposable incomes, as prices have shot up beyond the reach of ordinary citizens. Inflationary pressures have been mounting against stagnant or eroded incomes.
His observations echo findings of a survey that was conducted by the Consumer Council of Zimbabwe between March 22 and April 2. The survey divulged that all provinces recorded price increases.
Some have argued that official statistics from the government agency no longer represent the reality on the ground.
Price hikes have been linked, partly and importantly, to the scarcity of foreign currency in the market. The RTGS dollar that was introduced by the Zimbabwean central bank has been shedding value on a continual basis.
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More: News Day
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