Retail Sales Volumes Plunge After Recent Price Hikes

The recent wave of price increases by retailers has negatively impacted on the volumes of sales people’s disposable incomes have remained stagnant.

President of the Confederation of Zimbabwe Retailers, Denford Mutashu had this to say:

The volumes of products pushed by the sector have declined owing to low disposable incomes, as prices have shot up beyond the reach of ordinary citizens. Inflationary pressures have been mounting against stagnant or eroded incomes.

Mutashu said that the establishment of the interbank market has not improved the availability of foreign currency for retailers. He said:

The foreign currency situation has not improved significantly as both the interbank bank and the grey market forex rates have been crawling up due to limited supply.

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