Consumers Should Expect A 10% Increase In Prices - Retailers

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Consumers Should Expect A 10% Increase In Prices - Retailers

Retailers have warned consumers of an imminent increase in commodity prices as a result of a recent change in fuel prices.

Fuel prices were recently reviewed up to ZWL$7.19 and ZWL$7.47 for diesel and petrol respectively.

Confederation of Retailers Association president, Denford Mutashu, said that an increase in fuel prices had a trickle-down effect on businesses. He said:

The increase in fuel prices will push business to pass on the additional costs to the consumers by adjusting prices upwards by same margin averages, fuel used to add the cost of commodities by an average of 4% to 10% in the retail sector before the sapping load-shedding which has forced players to run solely on generators adding another huge cost.

The unrelenting inflation has already eroded salaries of workers who have since through their representative, the Zimbabwe Congress of Trade Unions (ZCTU), announced that they will confront the government over the matter. ZCTU president Peter Mutasa said:

The latest move will break the camel’s back. Everything is going up except the value of the workers’ earnings which in real terms are going down. The price of fuel means life has just gotten worse for the worker and if government does not have a solution to our problems it’s time we force them to come up with the solution.

Fuel prices will have an impact on businesses considering that they have embraced the use of generators as a panacea to the crippling power cuts.

More: News Day



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