Confederation of Zimbabwe Retailers president (CZR) Denford Mutashu has spoken out on the ongoing accusations against retailers said to be the cause of the unnecessary increase of prices for basic commodities blaming the cost of doing business as the sole cause for the relentless price increase.
The price increase causing instability in the country has been blamed on retailers said to be profiteering from the high prices of goods and services. You can see the latest prices of basic good here.
In an Interview, Mr. Mutashu said that the foreign exchange rate crisis has led to a general rise in the cost of doing business, forcing retailers to adjust their prices.
“The cost of doing business that has been ongoing has put in some additional costs that businesses have to contend with as retailers are frozen to buy generators so that they remain open due to the load shedding that the country has been experiencing for months,” said Mutashu.
The CRZ President denied all accusations against retailers that they are profiteering from the price increase in response to the public outcry whose cost of living has become unbearable.
The inflationary environment in the country is affecting both retailers and consumers because for retailers the operating environment has become very difficult with a noticeable reduction in purchasing power resulting in a sharp drop for goods and services, while consumers can no longer cope with the high prices of basic commodities.
Retailer are presumably raising their prices to keep up with the forex exchange rate.
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