adminAccording to the Consumer Council of Zimbabwe’s mid-month consumer basket for the current month, the cost of living as depicted by the low-income urban earner monthly basket for a family of six, increased from US$504 in July to US$505,21 in mid-August.
The latest increase in the consumer basket was largely driven by an upturn in the food basket.
The food basket, on its own, increased from US$146,27 in July to US$147,11 in mid-August, reflecting a 0,01 percent increase, while the food and detergents basket increased from US$160,16 in July to US$161,21 in mid-August, another 0,01 increase.
The review of import duty has resulted in increases in the price of imported cooking oil and maize.
Generally, a 20kg bag cost US$8 to US$8,50 but it has now gone up to US$9,70 and is edging towards US$10. The price increase for maize meal has been affected despite assurances by the grain millers that there would be no price increases except if the price of grain rises.
Imported cooking oil used to cost between US$3,80 and US$4,20 but now costs as much as US$4,80.
Although the price increases were as anticipated for imported cooking oil and maize, it is notable that some locally produced goods and other imported products of which the recent import duty review does not apply, have increased in cost.
According to CCZ, the following products have seen price increases: salt up by 20 cents, tomatoes by seven cents, beef by 40 cents, bath soap by one cent, and washing powder by six cents.
This is perhaps reflective of speculative tendencies by local producers and retailers, although bodies such as the CCZ and the Confederation of Zimbabwe Industries have warned against unjustified upward price reviews.
Meanwhile, the CCZ noted that locally manufactured products are still not being produced and supplied at adequate levels resulting in them being uncompetitive compared to goods coming from the South African market.
Online Reporter