Mnangagwa’s reality shock as basic commodity prices shoot up

Just when President Emmerson Mnangagwa has been making assurances to the nation that prices of basic commodities and most locally produced products will not be going up, Zimbabweans woke up to a shock weekend on Saturday when most of the basic commodities in the country shot up by between 10% and 15%.

The biggest shock to Zimbabweans was the increase of the price of bread from between 90 cents and $1 to up to $1.20 in some retail outlets.

Giant bread producers Baker’s Inn were the first to announce their price increases of up to 15% on Friday. All the big bakeries increased with the same margin on Saturday without engaging key stakeholders like the Consumer Council of Zimbabwe and the retailers bodies.

The ordinary loaf rose from $0.90c to a $1.00 and the premium loaf went up from $1.00 to anything between $1.10 to $1.20.

In A statement the Confederation of Zimbabwe Retailers blamed the price increase on raw material suppliers who increased their prices effectively affecting the end users.

“It is unfortunate that retailers bear the brunt of price increases yet most times we simply maintain the ordinary mark-ups after suppliers have raised prices,” the body said.

A snap survey carried out by ZimEye.com in Bulawayo on Sunday morning indicated that there was a somewhat deliberately created shortage of bread to instil the price increase.

Consumers interviewed by ZimEye.com claimed that the increases were a ploy to sabotage newly installed President Emerson Mnangagwa.

“Why are they increasing pieces just two weeks into Mnangagwa’s reign and a day after he warned business against unjustified price increases,” said a Bulawayo consumer.

Post published in: Business

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