New Zimbabwe.com

Govt Rolls Back Basic Commody Prices To Pre-Lockdown Charges

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By Robert Tapfumaneyi


THE government has reversed, with immediate effect, prices of basic commodities to levels charged before the start of the national lockdown.

Vice President Kembo Mohadi confirmed the development adding government had agreed with grain millers, bakers and sugar producers that the current prices were speculative and unjustified.

“Zimbabwe has been experiencing escalating food prices which is increasingly making it difficult for the consumers to afford basic commodities,” Mohadi told reporters.

He said when President Mnangagwa announced the lockdown last month, prices of basic commodities skyrocketed, creating difficulties for ordinary consumers in accessing food items such as bread, sugar, cooking oil, meal-meal, and flour.

“There was a general agreement amongst the multi-sectorial that price increases, particularly during the lockdown, was speculative and unjustified.

“The moratorium will also apply to all value chain players. This was supported by the Cabinet decision of the 21st  of April 2020 and will take effect immediately.”

Mohadi said the government had agreed with bakers, millers and other businesses to cut the prices of basic goods, including sugar and bread despite soaring inflation.

Annual inflation in Zimbabwe is estimated to be at 676.39%, one of the highest in the world.