Categories: Zim Latest

Good News: Some Commodity Prices Fall

The floating of the bond note and  allowance of the market to determine the USD/RTGSD rate is starting to yield results as the prices of some goods have started to go down.

According to a price survey  carried out by  the  Daily News the price of 2kg rice dropped from around $7 to $6,50, a bottle of 500ml of still water is now pegged at $0,85 from $1,05, while 500ml fizzy drinks now range around $1,80 from an average of $2.

Explaining the price falls, Confederation of Zimbabwe Industries (CZI) president Sifelani Jabangwe said prices should continue to fall as long as retailers have access to foreign currency from banks at a rate of 1:2,5.

With access to foreign currency, eventually prices are bound to go down and this will make positive contributions towards the economy.

Confederation of Zimbabwe Retailers president Denford Mutashu said the decrease in prices was due to a decline in consumer demand.

Price stagnation and in some instances, decline, is due to weakening consumer demand.
In some cases, you have someone with a full tank of fuel but failing to afford the daily basics as speculation on fuel availability takes its toll on spending.

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