“Major Retailers Defy Price Control Decree,” – Snap Survey

The government last week reintroduced price controls as a measure to cushion the citizenry from the effects of the national lockdown that was imposed to stop the spread of coronavirus.

NewsDay reports, however, that major retailers around the country have not adhered to the decree and are actually increasing prices of their commodities.


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Announcing the price control last week, Vice President Kembo Mohadi said that the retailers have to price their commodities using the prices of 25 March.

The NewsDay conducted a snap survey in Harare and Bulawayo over the past few days revealed
that prices of basic commodities have shot up by a factor of 400% since the lockdown on 30 March as retailers are revising prices of basic commodities upwards almost daily to keep pace with the exchange rate. The publication noted:

Two litres of cooking which was pegged at around $60 at the end of March now costs $190 with prices of other goods such as flour and washing soap changing daily, depending on the retailer.

Inflation in the country has over the past 24 months been on the rise when workers’ salaries have remained relatively stagnant.

Economists say observe that the government is in a dilemma as inflation is likely to further deteriorate the living standards of many while price controls would have an adverse effect on the economy.

More: NewsDay

 

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