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| Press Statements |
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| Cost of living increases by 125.9% in April |
| 9th May 2007 |
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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 $1 482 323.73 in March to $3 349 051.97 in April 2007, reflecting a 125.9% increase. In terms of US Dollars the Family Basket shifted from US$5 929.29 in March 2007 to US$13 396.21 in April 2007.
Notable increases on a month on month basis were recorded on White Sugar which rose by 468.9%, Education by 421.2%, Roller Meal by 232.2%, Vegetables by 231.4%, Tea Leaves by 224.5%, Rice by 194.9%, Bath Soap by 192.6%, Salt by 171.7%, Washing Bars by 180.4%, Washing Powder by 184.6%, Health by 168.9%, Bread by 144.4%, Margarine by 144.7% and Meat by 135.4%. The major mover for the month of February was White Sugar, as the price of the commodity was increased on the formal market. The prices of most basic commodities have been recording significant increases since the beginning of the year, in the period between March and April 2007, prices of most basic commodities rose by at least 100%.
CCZ greatly concerned at the rate at which prices have been increasing, especially in the wake of some prices increasing by as much as 468.9%. This has brought untold suffering on the majority of consumers, whose salaries have been lagging behind at shockingly slow pace. There is urgent need for intervention on the current scenario. It is in light of such price increases that CCZ reiterates its position in lobbying stakeholders for the expeditious setting up of the National Incomes and Pricing Commission (NIPC). The body will be ideal in arresting the situation, which is deteriorating fast in as far as consumers are concerned. CCZ calls on stakeholders to also implement various measures such as the proposed “Social Contract”, to augment economic turnaround efforts.
From this month’s edition of the Family Basket, there will be the inclusion of a replica basket of prices at Manufacturer’s level. the move seeks to give consumers information on the what their monthly consumption will be if they purchased products directly from manufacturers. As indicated in the basket above, it is cheaper for consumers to purchase certain products directly from manufacturers as that enables them to purchase products at cheaper rates and allows them to buy more from their money. CCZ urges all consumers with access to manufacturers of basic commodities to purchase their products from such, as some unscrupulous retailers who are bent on making super-profits, still continue to arbitrarily hike prices by shocking margins.
Consumers need to shop around for the cheapest product, in order to get value for money. Consumers have a role to play in ensuring that they get a fairdeal on the marketplace.
CCZ notes with concern the continued inavailability of some basic commodities such as Sugar, Roller Meal, Cooking and Flour on the formal market. In all the five regions CCZ conducts its surveys in, Sugar is only available on the parallel market with rare cases where it is obtained on the formal market. Cooking oil on the other hand is available in some regions, with imported substitutes being the most available compared to local produce. Product shortages have been witnessed mainly for products whose prices are either controlled or monitored with producers citing unviable prices, although for some, price increases have been recently granted by the Ministry of Industry and International Trade.
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