Consumer council survey finds cost of living going up
DUE to worsening economic conditions, the cost of living for an average family of six has slightly increased to US$562, a survey by the Consumer Council of Zimbabwe (CCZ) for the month of October shows.
The survey says the low income urban earner monthly basket for a family of six increased from $559 recorded at the end of September to US$561.92 by the end October 2015, showing an increase of US$2,81 or 0,50 percent.
CCZ said the price increases in the economy were necessitated by importation costs since many commodities come from outside the country and also the end of TM Bargain Bonanza Promotion.
Most retailers in Zimbabwe have resorted to promotions and price cuts to boost purchasing power by the populace in light of job losses and salary cuts.
The movers and shakers include brown sugar which moved from US$1, 64 to US$1,68, tea leaves from 98 cents to US$1,59 as well as milk, flour, tomatoes, cabbage, meat and the green bar soap.
Government is also pushing for consumption of locally produced goods to fight a growing import bill that is unmatched by low exports.
Decreases in prices were recorded in margarine, roller meal, cooking oil, rice and washing powder. The price of bread, salt, onions and bath soap remained unchanged from the end September 2015 figures.
The economy has been depressed, persistently remaining in deflation in the past few months. Newzimbabwe.com
Follow us on Twitter on @FingazLive and on Facebook – The Financial Gazette