Inflated commodity prices
Published On October 2, 2015 » 1941 Views» By Davies M.M Chanda » Business, Columns
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TALKING SHOP NEW copyTHE effect of the Kwacha depreciation on the prices of local products has been blown out of proportion by some traders.
The rate at which the prices of some of the essential commodities are increasing is not even proportional to the rate at which the local currency has fallen.
Taking advantage of the poor performance of the Kwacha, traders, even those dealing in purely locally-produced commodities which are not even affected by the foreign exchange market are abnormally increasing the prices.
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While on the foreign exchange markets, it is encouraging that some leading supermarkets, like Shoprite, have come up with some sales promotions for selected goods.
This is mitigating the effects of the falling Kwacha on the prices of the commodities especially essential ones.
Shoprite and others should be encouraged to continue with this trend.
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There is a growing tendency by some children from areas surrounding a Lusaka-based shopping mall who are hoodwinking shoppers into clearing bills for sweets and other small food stuffs for them.
With full knowledge of the prices of commodities the children pick goods like crisps and sweets which they pre, sent to the counter but only produce coins whose values fall far below the total prices of the commodities picked.
After the tellers have punched in the prices of goods amounting to say K10 or more these children will produce K1.50 and that point they would turn to next unsuspecting adult shopper to assist clear off the balances.

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