Cost of living shoots up (13-06-07)

THE cost of living for a low income urban family of six for the month of May has shot up to $5,5 million from $3,3 million in April this year, reflecting a 65,6% increase.
According to the Consumer Council of Zimbabwe (CCZ) notable increases were recorded in water and electricity charges which r

ose by 25% followed by clothing and footwear which went up by 241%, transport by 150% while tea leaves shot up by 121%.
Fresh milk went up by 92,2%, meat (beef) by 84,4% and bread up by 76,5%.
The family basket based on manufacturer’s prices totalled $4,9 million, 13% cheaper than the retail basket. Put differently, this means on average the prices of most basic commodities went up by at least 13% “in transit” from the manufacturer, wholesaler and finally to retailer.
“This therefore proves how cheaper it is for consumers to purchase products directly from manufacturers whenever they have the chance to do so,” noted the CCZ.
Addressing journalists yesterday (June 12) CCZ executive director and National Incomes and Pricing Commission board member Rosemary Siyachitema said: “Price increases continue to bring about suffering to the majority of consumers. CCZ commends the setting up of the National Incomes and Pricing Commission and pits its hopes on the commission’s ability to address the price and income disparities in the economy.”
Siyachitema also described the signing of the Social Contract and protocols under the Tripartite Negotiating Forum as a step in the right direction.
“All these measures will go a long way in bringing stability into the economy. Through the various bodies, inflationary tendencies in terms of pricing can be curbed, thereby reducing the inflation spiral significantly,” said Siyachitema.
There was, however, need to expeditiously implement the measures agreed upon so that the intended beneficiaries consumers, Government and business can realise the gains of the NIPC, Social Contract and TNF.
The consumer watchdog also urged consumers to shop around in order to avoid being ripped off by unscrupulous business people out to make super profits.

Post published in: Economy

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