adminAccording to figures from the CCZ, the food basket for the month of April decreased from US$146,21 in the previous month to US$144,02, indicating a 0,02 percent decrease.
During the same period, the food and detergents basket decreased from US$160,38 to US$157,79, reflecting a similar 0,02 percent decrease.
The cost of the April basket for transport, rent, water and electricity, health, education, clothing and footwear remained the same at US$344.
CCZ executive director Ms Rose Siyachitema attributed the decline to some factors that prevailed during the month notably increased competition in the retail sector and a weakening rand.
“CCZ has observed a slight decrease in prices for most products in the food basket. We commend supermarkets to continue with this trend, pushing products at low prices.
“The rand has stayed somewhat weaker to the United States dollar,” she said.
The average rand/United States dollar exchange rate for the month of April was relatively stable.
A strengthening rand against the US dollar is typically a major cost push factor for retailers in Zimbabwe because of the high volume of imported products from the South African market.
Notably, however, during the period, the price of crude oil on the international market increased resulting in high fuel prices that ranged between US$1,35 for a litre of diesel and US$1,45 for a litre of petrol.
The state of the consumer basket is largely reflective of country’s declining inflationary trend of late. Zimbabwe’s year-on-year inflation eased in March to 2,7 percent, down from 3 percent in February.
Online Reporter