Manufacturers Blame Retailers For Unjustified Price Hikes

As Government threatens to take action against businesses that are overpricing commodities, manufacturers have blamed retailers for the price madness prevailing accusing them of unethically adding high-profit margins on products, hence suffocating, the consuming public.

Consumers have for the past weeks bore the brunt of severe price hikes which have reduced demand for most basic commodities

Meanwhile, the government plans to support small bakeries and confectionaries in small towns around the country to help increase their capacity and eventually bring down the cost of bread, Industry and Commerce minister, Mangaliso Ndlovu has said.

The country’s bread industry is dominated by three major bakeries Lobels, Bakers Inn and Proton which all hiked the price of a standard loaf of bread from $2,50 to more than ZWL$3.

The increase is the fifth this year as inflationary pressures continue to grip the southern African nation. In March, year-on-year inflation reached 66%.