Sugar price soars

BULAWAYO - Leading supermarkets in Zimbabwe's second biggest city of Bulawayo at the weekend hiked the price of sugar by 50 percent as the country's seven-year old economic crisis showed no signs of abetting.
A two kilogramme pack of white sugar now costs Z$600, up from the $400 it used to cost l

ast week while a 10kg bag of the same commodity now costs $3 000, up from $2 000.
The latest hike in the price of sugar comes barely a week after transport operators also increased fares in most major towns and cities as the cost of living skyrockets in a country with the world’s highest inflation of 1 204.6 percent.
A combative Industry and International Trade Minister, Obert Mpofu, accused business leaders of working with the opposition, saying they were hiking prices in order to incite hard-pressed Zimbabweans to revolt against the government.
Mpofu, who has in the past threatened to withdraw trading licences from business that hike price of basic goods without approval from the government, said his department would soon reintroduce price controls on a wider range of goods.
At the moment the government only controls the prices of a select few most essential commodities.
“We will definitely act on that because we cannot let innocent people suffer because somebody wants to either profiteer or push the government out of power,” said Mpofu.
Once the breadbasket of southern Africa, Zimbabwe is in the grip of a severe economic crisis, marked by shortages of food, fuel, essential medicines and just about every basic commodity. – ZimOnline

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