Basic Commodities Remain Stable: Government Reports

by | Jul 8, 2024 | Business, Local News, Politics | 0 comments

Basic Commodities Remain Stable: Government Reports


Nevanji Munyaradzi Chiondegwa


HARARE – The government has reported a stable second quarter in terms of basic commodity prices and availability, according to Minister of Information, Publicity and Broadcasting Services, Dr Jenfan Muswere.


Speaking at a post-Cabinet press briefing today, Dr Muswere highlighted the findings of a report presented by the Minister of Industry and Commerce, Hon. N.M. Ndhlovu, to Cabinet. The report, covering April to June 2024, indicated a positive trend across all provinces, with prices remaining steady in both Zimbabwean dollars (ZiG) and US dollars.


“The tight monetary stance maintained by the government has resulted in exchange rate stability, which has translated into the stability of prices of basic commodities on the market,” explained Dr Muswere.


The report detailed the following price ranges for key commodities:


Mealie-meal (10kg pack): ZiG100.01 – ZiG103.8 / US$5.30 – US$8.50

Cooking Oil (2-liter bottle): ZiG54.63 – ZiG56.50 / US$3.30 – US$4.70

Bread: ZiG14 – ZiG14.50 / US$1 – US$1.20

Sugar: Stable prices observed during May and June 2024, with improved supply nationwide.

Laundry Soap: ZiG23.13 – ZiG23.50

Dr Muswere also noted a convergence of prices between the formal and informal sectors, with some commodities like cooking oil and mealie-meal even experiencing price decreases. This positive trend is attributed to government measures implemented to address price increases witnessed in the first quarter of 2024.


The Minister further emphasized the increasing use of the Zimbabwean dollar in transactions, with Point of Sale (POS) machines becoming prevalent in major retail outlets. While some shops still display prices in US dollars, the majority of transactions are now conducted in ZiG. “Currently, 80% of formal retailers’ transactions are in ZiG, while 20% are in US dollars,” he stated.


The government’s report paints a positive picture of the current economic situation, with stable prices and increased use of the local currency. However, it remains to be seen whether this trend will continue in the coming months.