By ZBC Reporters
The Zimbabwe National Statistics Agency (Zimstat) has revealed stability in prices of basic goods and commodities, with consumers commending regulatory authorities for instituting effective policies.
Zimstat data shows inflation which is a measurement of price increases over a certain period dropped by 27,09 per cent for the month on month, with the year on year down by 76 per cent in August.
While supporting current pricing stability policies, consumers are calling on the central bank and treasury to focus on long term stability measures.
University of Zimbabwe Economics Lecturer, Dr Carren Pindiriro says while stability in prices is encouraging, more still needs to be done towards stimulating productive sectors.
“It is really noble and good but there is still more that needs to be done for the good of this economy.”
Consumer Council of Zimbabwe executive director, Ms Rosemary Siyachitema says stability in prices will maintain value for money and improve household budgets.
“Let us wait and see but so far so good and we just anticipate better times if the trajectory is maintained.”
Treasury and monetary authorities are projecting a further fall in inflation during the last quarter of the year due to positive results from the auction system, tight money supply growth and sustained treasury spending among other measures.
Meanwhile, the Bulawayo community has welcomed measures that have been put in place to stabilise the exchange rate, a development which has brought stability in prices of basic commodities.
With only a few weeks before the Transitional Stabilisation Programme (TSP) comes to an end, there is clear evidence that the government programme has been a success based on objectives of stimulating economic growth and stabilising the macroeconomic environment.
The development has been welcomed in various parts of the country with the people of Bulawayo the latest to add their voice.
“I am happy with the price stabilising, for the past 1 month things have been stable. A change is being seen in the stabilisation of prices and we hope that things will remain the same.”
Others called upon fellow Zimbabweans to shun overpriced products and shops which are overpricing goods.
“There are people who are still overcharging commodities, prices going up daily. What we need to do is boycott these products and shops. What surprises me is that these products are bought from the same manufacturer, however, you find people overpricing.”
Under the TSP, the government came up with austerity measures as part of initiatives to stabilise the economy as the country gravitates towards an upper-middle-income economy by 2030.