Business / Economy
Zimbabwe consumer basket increase from $540.80 to $546.34
07 Dec 2011 at 06:18hrs | Views
The Consumer Council of Zimbabwe consumer basket for a family of six increased from US$540,80 in October to US$546,34 in November, reflecting a 0,01 percent rise.
The CCZ said the increase in electricity tariffs by Zesa and the impact of reinstatement of duty on some basic commodities caused the increase in the November basket.
CCZ said the food basket alone increased from US$158,18 in October to US$163,69 in November reflecting a 0.03 percent increase. The food and detergents basket increased from US$171,80 in October 2011 to US$177,34 in November 2011 reflecting a 0,03 percent increase.
"CCZ noted that in the month of October 2011 certain products in the food basket have increased from the previous month, while others have maintained or slightly reduced their prices."
It noted that the price of margarine went up by 14c, white sugar by 15c, tea leaves by 34c, salt by 2c, and meat by 85c. The price of washing soap is said to have gone up by 16c and that of washing powder by 5c.
"However if we benchmark as from the September family basket of US$527, 52 to US$546,34 in November there's a huge increase of US$19 reflecting 0,04 percent, this is a vast increment to come from the pockets of already burdened consumers."
CCZ wants to see a downward movement of prices of basic commodities, especially when the Rand has weakened against the US dollar.
Retailers are quick to increase prices when the Rand strengthens against the dollar and yet they ignore the effect when it is the other way round.
The cost of the CCZ basket for transport, rent, water and electricity, health, education, clothing and footwear has remained at US$369.
Presenting the 2012 national budget recently, Finance Minister Tendai Biti restored duty on some foodstuffs to protect local industry.
He said the development had been necessitated by improved supply of basic goods and also the need to protect local producers.
The CCZ said the increase in electricity tariffs by Zesa and the impact of reinstatement of duty on some basic commodities caused the increase in the November basket.
CCZ said the food basket alone increased from US$158,18 in October to US$163,69 in November reflecting a 0.03 percent increase. The food and detergents basket increased from US$171,80 in October 2011 to US$177,34 in November 2011 reflecting a 0,03 percent increase.
"CCZ noted that in the month of October 2011 certain products in the food basket have increased from the previous month, while others have maintained or slightly reduced their prices."
It noted that the price of margarine went up by 14c, white sugar by 15c, tea leaves by 34c, salt by 2c, and meat by 85c. The price of washing soap is said to have gone up by 16c and that of washing powder by 5c.
CCZ wants to see a downward movement of prices of basic commodities, especially when the Rand has weakened against the US dollar.
Retailers are quick to increase prices when the Rand strengthens against the dollar and yet they ignore the effect when it is the other way round.
The cost of the CCZ basket for transport, rent, water and electricity, health, education, clothing and footwear has remained at US$369.
Presenting the 2012 national budget recently, Finance Minister Tendai Biti restored duty on some foodstuffs to protect local industry.
He said the development had been necessitated by improved supply of basic goods and also the need to protect local producers.
Source - herald
