by Rudo Saungweme

The general price hikes in the country have triggered panic buying by consumers in anticipation of shortage of commodities, Harare Post can reveal.

The recent weeks have been characterised by general hiking of basic commodities. However, cyber brigades have been exaggerating the extent of the price hike with a view to causing panic and despondency within the country.

This publication spoke to some retailers in the country which proffered varied reasons for the price hikes.

“We have had challenges with informal traders who are hoarding basic commodities. Pick ‘n’ Pay prices are rising because of the illegal dealers who double as foreign exchange dealers.

“These people are taking advantage of speculations going about the social media that prices are rising. Illegal traders are hoarding basic commodities such as cooking oil and soap. These traders are reportedly buying the said goods using ecocash and swipe at a stipulated price but will then resell the goods on black market at discounted cash prices for profiteering purposes,” said Pick ‘n’ Pay branch manager who chose not to be named.

OK Zimbabwe branch manager who requested for anonymity also attributed the same challenge to the illegal traders. However, the manager said that the price increases were mainly caused by foreign currency shortages. He said that the raw materials imported had resulted in higher cost of production leading to a hike in the prices of basic commodities.

Mrs Mathema who works at one of the food outlets in town said that she was not happy with the price increase especially on basic commodities. She accused the producers of wittingly increasing prices as they were not informed by economic fundamentals at play.

An unidentified Chitungwiza businessman said that the price hikes were being caused by a few people who want to discredit the new government`s efforts in economic revival. He added that there was a possible hand which wants to cause economic sabotage to incite the public to blame the new dispensation for failing to address the economic problems.

The MDC Alliance have been celebrating the price increase and they have been exaggerating the increase on social media. MDC Alliance leader, Nelson Chamisa said that “the economy is freezing and even fuel is in short supply. What is more in short supply is market confidence. Business is not settled because elections were tempered with. You can change statistics of elections but you cannot temper with figures in economics.”

Chamisa called for sanctions that were imposed through Zimbabwe Democracy and Economic Recovery Act (ZIDERA) when he lost the 30 July 2018 harmonised elections. The MDC Alliance were also involved in the 1 August 2018 violence which was meant to discredit the outcome of the elections.