Govt decries price hikes of basic commodities

Oscar J Jeke

The Ministry of Industry and Commerce has expressed disgruntlement over the continued rise of prices of basic commodities.

This emerged following a meeting with Business Member Organisations.

In a statement, Minister Dr Sithembiso G.G. Nyoni noted that her Ministry had observed during the week that there have been trends of price hikes on selected basic commodities, which is a replication of yesteryear activities.

“…… of increase in the prices of basic commodities during this week, wherein laundry soap has gone up 16%, cooking oil by 13%, bread by 12%, and mealie meal by 9%,” Dr Nyoni said.

The Minister warned businesses on overpricing of goods, especially during the festive season, reiterating that the ministry has the onus to nip any negative developments in the bud.

On the other hand, industry assured the nation of the availability of enough stocks of basic commodities while promising to immediately work on modalities to ensure prevention of sharp price increases.

Price volatility has been an issue affecting the nation in the past years, a development that has been curbed by the tight monetary policy put in place by the Reserve Bank of Zimbabwe.