News / National
Tax increase raises cost of living in Zim
06 Oct 2014 at 07:50hrs | Views
THE recent upward tax review mainly on fuel has raised cost of living for a family of six by 1,7 percent to $593,17 as of end of September from $586,90, according to the Consumer Council of Zimbabwe (CCZ) recent survey.
In the mid-term budget review policy statement last month, the government announced a five percent tax increase on fuel and airtime and tightened import duty on basic commodities such as cooking oil.
"As CCZ, we assume that the price increases are a result of the five percent tax increase on fuel introduced by the government in September," Rosemary Siyachitema, the CCZ executive director said Friday.
According to the survey all products in supermarkets have increased as of last month, following a taxi review by government which courted negative criticism from captains of industry.
The report, however, indicates that the maize meal price dropped by 17 cents from $11,60 to $11,43 for a 20kg packet as well cooking oil, which went down by 10 cents from $1,60 to $1,50 for 750ml.
The price of bread, bathing soap and washing powder remained unchanged from the end of August 2014 figures.
The report urges consumers to purchase only certified goods. According to the same report coins are now available in shops to assist consumers with change.
In the mid-term budget review policy statement last month, the government announced a five percent tax increase on fuel and airtime and tightened import duty on basic commodities such as cooking oil.
"As CCZ, we assume that the price increases are a result of the five percent tax increase on fuel introduced by the government in September," Rosemary Siyachitema, the CCZ executive director said Friday.
The report, however, indicates that the maize meal price dropped by 17 cents from $11,60 to $11,43 for a 20kg packet as well cooking oil, which went down by 10 cents from $1,60 to $1,50 for 750ml.
The price of bread, bathing soap and washing powder remained unchanged from the end of August 2014 figures.
The report urges consumers to purchase only certified goods. According to the same report coins are now available in shops to assist consumers with change.
Source - Chronicle
