Tanaka Mahanya
THE Government’s corrective measures have successfully led to a reduction in the prices of basic goods and services, Information, Publicity and Broadcasting Services Minister, Monica Mutsvangwa, has said.
The prices of bread, cooking oil, sugar and mealie-meal, among other basics, have fallen, with the price of maize meal declining by 27 percent.
Minister Mutsvangwa stated that the measures had proved effective in curbing price madness and maintaining a stable foreign currency exchange rate.
“The corrective measures implemented by the Government following a spike in the prices of basic goods and services around June have seen the prices continue to go down,” Minister Mutsvangwa said.
Addressing a post Cabinet briefing yesterday, Minister Mutsvangwa said this was reported by Industry and Commerce Minister, Sekai Nzenza.
“Cabinet is pleased that the measures have been effective in curbing the price increases, and that the foreign currency exchange rate remains stable.
“This is testimony of the Second Republic’s sound management of the economy,” she said.
Consumers have also noticed a stabilisation of the foreign exchange rate in favour of the Zimbabwe dollar.
According to a study conducted by the Consumer Protection Commission (CPC) last month, a 10kg bag of maize Roller Meal, which retailed around $56 772 in June went down to $39 239.