Consumers happy with price stability

19 Sep, 2020 - 00:09 0 Views
Consumers happy with price stability Mr Langton Mabhanga

The Herald

Ivan Zhakata Herald Correspondent

Consumers are happy that prices of basic commodities have largely remained stable since the start of the foreign currency auction system at the end of June.

Several consumers who spoke to The Herald yesterday said they were happy with the prevailing price regime and the stability of the local currency in recent weeks.

“We are happy that the Zimbabwe dollar is slowly gaining. The prices of basic commodities have been stable for the past weeks and we hope the prices will continue to fall,” said Tariro Mhoka.

Another consumer, Victor Karare, thanked the Government for coming up with remedial measures that had greatly contributed to the stabilisation of the prices.

“The prices of basic goods have been stable for some time which is good for us. We hope they will continue being stable so that we can afford to take care of our families. From what we are reading in the media, I think the foreign currency auction system has also contributed immensely towards the stabilisation of the Zimbabwe dollar as some retailers are now able to access foreign currency from the Reserve Bank (of Zimbabwe). We pray that things will continue to stabilise,” he said.

Valentine Gwaze praised Government for continuing to fight illegal foreign currency dealing and reckoned that this had led to price stability.

“So far we have no complaints because the prices of basic goods have been stable for quite some time. But in other shops they are still charging exorbitant prices,” he said.

Others, however, observed that prices of selected items were going up marginally, but these were largely non-essentials.

Prices of goods also depended on brand preferences and where one was buying from.

Tarirai Mandishona said: “Prices of some basic commodities like meat are increasing in some butcheries.

“It is hard for us to use US dollars because we earn Zimbabwe dollars.

“Basic goods should be subsidised so that low income earners can afford them,” she said.

Pan African Chamber of Commerce board member Mr Langton Mabhanga told The Herald yesterday that the price stability was largely a result of the foreign currency auction system and other corrective measures taken by Government.

“We really think that the auction has brought on board market forces to determine the rate.

“The monetary authorities did well to heed our call to allow the monetary activities to determine the exchange rate.

“They have brought price stability and this will give rise to productivity,” he said.

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