Retailers must reduce prices, says CCZ

THE Consumer Council of Zimbabwe (CCZ) has called on retailers to reduce prices of goods following a reduction in fuel prices.

This follows a drop in petrol price from US$1,76 to US$1,60 per litre, while diesel dropped from US$1,77 to US$1,74 per litre.

However, business has not reflected that in its pricing, and prices of some basic commodities have continued to rise.

CCZ acting executive director Rosemary Mpofu expressed disappointment that some businesses continue to profiteer at the expense of consumers.

"The problem with our businesspeople is the culture of profiteering. By now, prices should have gone down because fuel prices have immensely gone down," Mpofu said.

In an interview with NewsDay recently, CCZ spokesperson Christopher Kamba said: "People are not in compliance with the market rate. People are using their own desired foreign currency exchange rates. We have not seen much enforcement of the interbank rate. The laws are there, the policies are there, but enforcement is lacking."

The country has been experiencing sporadic price hikes with manufacturers and retailers raising prices of basic commodities such as mealie-meal, sugar and cooking oil on a weekly basis.

The Zimbabwe National Statistics Agency says the total consumption poverty line for Zimbabwe stood at $18 425,09 per person in June 2022.