PRICES of basic commodities rise up by 100 percent this week following the fuel price increases by the Zimbabwe Energy Regulatory Authority.

The prices of basic goods such as cooking oil, bread, mealie-meal and  flour among others increased up to 100 percent, thereby pushing the prices beyond the reach of most consumers.

A snap survey which was carried out by The Chronicle in Bulawayo yesterday revealed that a two-litre bottle of cooking oil, which was selling at around $28, has increased to $35, so as the price of a 10kg bag of mealie-meal which has increased from $27 to about $68, although it is unavailable in most supermarkets and the price of a loaf of bread has increased from $6,90 to $9 while a 1kg of salt has gone up from $4 to $7.

Vegetables have also become a luxury as prices have sharply increased with a pocket of potatoes going for $50 up from $38.

However, the Confederation of Zimbabwe Retailers (CZR) President, Mr Denford Mutashu attributed the price increases to the changing interbank rates and speculation by retailers.

He said the speculative behaviour emanates from the fact that Government has stopped publishing inflation figures.

“While we remain positive and optimistic that the prices will stabilise, there is need to provide all the required information. Month- on-month and year-on-year inflation figures are important for planning purposes,” he said.
This increase in the prices of basic commodtities has made them unaffordable for most consumers, as their prices are not consumerate with the level of salaries people are earning.

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