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| News & Features |
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| Cost of Living Soars! |
| 6th December 2006 |
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The cost of living as depicted by the Consumer Council of Zimbabwe’s low-income urban earner monthly budget for a family of six has risen from $141 706.79 in October, to 208 714.84 in November reflecting a 47.3% increase. In terms of US Dollars the Family Basket shifted from US$566.83 in October to US$834.86 in November.
In the month of November notable increases were recorded in Roller Meal which rose by 197.79%, Cooking Oil by 196.16%, Washing Bars by 112.12%, Rice by 95.30%, Salt by 91.05%, Margarine by 85.03%, and Transport by 50%. The major mover for November was Roller Meal, with the prices of Cooking Oil moving significantly. Flour shortages continue but however the availability of the commodity on the formal market has improved. Prices have continued to increase at an accelerated rated, the total cost of the family basket increased at an increased rate by 47.3% in November in October and September it increased by 26.4% and 16.3% respectively.
CCZ is greatly concerned about the general price increases, especially in the month of November, which recorded significant increases compared to other months in year. There is need for stakeholders in business to increase, prices, based on factors of production instead of unilaterally hiking prices to maximise profits. The allocation of funding for the setting up of the National Incomes and Pricing Commission in the 2007 budget is indeed appreciated as this will help in expediting the setting up the Commission. It is important that the Commission not only looks at prices but also at incomes as these are equal sides of the equation. CCZ bemoans the fact that the issue of salaries which would have been considered under the TNF, continues to lag behind. CCZ urges the relevant bodies to seriously look at people’s incomes.
Consumers need to effectively conserve electricity and water in anticipation of the tariff increases in December which fall during the season.
CCZ commends the Minister of Finance, for a consumer-oriented budget, by cushioning and giving consumers a sigh of relief through an increased tax-free bonus and increasing the tax-free threshold. Unfortunately this relief might be shot term because of high inflation and continuous increase of prices of basic commodities.
CCZ also urges consumers to be on high alert during this festive season and use their monies wisely because some unscrupulous supermarkets take advantage of celebrations and merry making.
Consumers are continually urged to be alert and report any anomalies in the marketplace. They should not compromise a fairdeal on the marketplace, but should always be proactive and assert their rights at all times. It is their right to choose products and services at competitive prices with an assurance of quality and all stakeholders need to honour the rights of consumers.
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