admin
The price hike madness is upon us again and this time retailers have increased prices by margins of up to 75 percent.
Most basic commodities are no longer affordable to the majority of consumers and this is a very worrying development which has to be addressed urgently.
Most employers have not increased salaries including the retailers that have increased prices by shockingly high percentages.
According to the Confederation of Zimbabwe Industries (CZI) president, Mr Sifelani Jabangwe, the prices increases are a response to the movement on the parallel market since the official market is offering rates that are very low for sellers.
He however said the price hikes are likely to be short-term if the inter-bank market works to eliminate the parallel market.
The Confederation of Zimbabwe Retailers Association (CZRA) president Mr Denford Mutashu said the price hikes were induced by the prevailing shortages of foreign currency.
Zimbabwean consumers have since last October been subjected to incessant price hikes by retailers that are after profiteering through charging exorbitant prices.
It is unfair when retailers peg their prices based on the parallel market rates when salaries of consumers have not been adjusted even based on the official market rates.
The unjustified price increases are therefore imposing hardships on workers and their families most of whom can no longer afford even the basic commodities.
There is urgent need to put measures in place to protect consumers from unscrupulous business persons that want to profiteer through charging exorbitant prices.
The same retailers that are profiteering by charging exorbitant prices have been pestering Government to protect them against stiff competition from cheap imports.
Most people have now resorted to buying these imports on the pavements because the prices are very low compared to what is obtaining in the retail shops.
Commodities such as washing powder, body lotion, rice, cooking oil, cereals, peanut butter and other such commodities are being imported from South Africa and supplied to vendors that are selling them on the streets at very low prices.
There has been a push for Zimbabweans to consume local products but retailers and manufacturers are shooting themselves in the foot by charging exorbitant prices for these local products.
Consumers are therefore left with no option but to buy cheap imports.
Our industries can only be supported by Zimbabweans buying locally produced products and this is only possible if industry and retailers price their products correctly taking into account the issue of affordability.
We have repeatedly implored businesses to uphold business ethics and we have also called on them to be sensitive to the plight of their customers.
It is a fact that businesses can only thrive if people consume their products and services.
Online Reporter