Business / Economy
Zimbabwe's consumer basket declines
04 Jul 2011 at 22:59hrs | Views
According to the Consumer Council of Zimbabwe, the consumer basket fell slightly from US$504 in May to US$502 last month due to increasing competition among retailers.
The food basket marginally fell from US$146 in May to US$145, reflecting a 0.01% decline.
During the same period, the food and detergents basket decreased from US$160 to US$158.
CCZ Executive Director, Ms Rosemary Siyachitema said the price reductions are attributable to retailers who are competing among themselves in order to stay in business.
The CCZ noted that the average price of fuel has slightly decreased in comparison to past months as it is ranging from US$1, 30 to US$1, 43.
Commenting on the import duty review for basic commodities expected in the mid-term budget review, Ms. Siyachitema said production in local industry is not yet sufficient enough for imports to be stopped, but highlighted that duty for raw materials used in the manufacture of basic goods should be removed.
The food basket marginally fell from US$146 in May to US$145, reflecting a 0.01% decline.
During the same period, the food and detergents basket decreased from US$160 to US$158.
CCZ Executive Director, Ms Rosemary Siyachitema said the price reductions are attributable to retailers who are competing among themselves in order to stay in business.
The CCZ noted that the average price of fuel has slightly decreased in comparison to past months as it is ranging from US$1, 30 to US$1, 43.
Commenting on the import duty review for basic commodities expected in the mid-term budget review, Ms. Siyachitema said production in local industry is not yet sufficient enough for imports to be stopped, but highlighted that duty for raw materials used in the manufacture of basic goods should be removed.
Source - Byo24News
