24 January 2018
   
Zim family finally leave Bangkok airport
Government orders fuel price cut
5 weeks for ministers to declare assets
Mnangagwa Mugabe Part II, critics say
12th G40 member booted out of Zanu PF
Mohadi says VP post zenith of his career
EU throws weight behind ED government
Zanu PF official says Moyo used Juju
MORE NEWS
Millers rescue NRZ, procure 200 wagons
Diamond: $20m for land reclamation
MORE BUSINESS
Mukanya to perform in Harare on April 28
SA: Jazz legend Hugh Masekela dies
MORE SHOWBIZ
Bangladesh wallop sorry Zimbabwe
PSL says 2018 season starts March 10
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Sadc peace hinges on leaders' gains & loses
Mnangagwa off to Davos empty handed
MORE COLUMNISTS
 
 

Prices up 100 per cent in three months

13/01/2018 00:00:00
by Staff Reporter
 
Leading politburo committee on prices ... Vice president Constantino Chiwenga
 
RELATED STORIES
‘Prices controls will empty supermarkets’

PRICES for most basic commodities in Zimbabwe have gone up by up to 100% in the last three months amid concerns that the situation could worsen as the country is receiving below normal rains, the Famine Early Warning Systems Network (FEWS NET) has said.

In its monthly report for January, FEWS NET, also exposed the State-run Zimbabwe National Statistics Agency (ZIMSTAT) of understating the country’s annual inflation figures.

“Prices of most basic food commodities (including maize meal, cooking oil and sugar) and other goods and services continue to increase,” FEWS NET says in its January report.

“Prices have gone up by up to 100 percent for some products in the last three months. Some independent analysts continue to argue that the official (ZIMSTAT) inflation rates (e.g. 2.97 percent annual inflation in November) are understating reality on the ground,” it noted.

FEWS NET added the situation was set to worsen due to cash shortages and below normal rainfall that the country has received since the start of the 2017-18 rainfall season last October.

Mashonaland West is the worst affected province in the country, having received significantly below normal rains, the organisation said. 

“The government has indicated that prevailing cash shortages will continue for some time as they require medium and long-term measures to address them.

“Because of low rainfall, planted area is atypically low in some areas, especially in the north. Crop germination and establishment in some areas has been and will continue to be affected.

“Moisture stress is being experienced for crops at the early vegetative stages in some areas. There is generally low agricultural activity in most areas.  Markets across parts of the country are also experiencing fertilizer shortages,” said FEWS NET.

The rise in prices of basic commodities has forced the Zanu PF government to set up a committee headed by Vice President Constantino Chiwenga to investigate the increases.

The price increases have been blamed on the prevailing cash shortages and the government says the crisis will continue for some time as it requires medium to long-term measures to address them. 

Most business traders have resorted to the use of a three-tier pricing system which involves payments in US dollars, bond notes or the use of the electronic system. 



Advertisement

FEWS NET is a US-based organisation that provides early warning and analysis of food insecurity across the globe.


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker