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AfricaEconomyZimbabwe

Zimbabwe hikes sugar prices by 10% as inflation takes its toll

By Almot Maqolo

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Sugar producer, Tongaat Hulett Zimbabwe has further increased the price of 2kg brown sugar by 10 percent, making it difficult for consumers already grappling with soaring inflation and static income. The last increase in sugar pricing was made three weeks ago.

According to a new price table from the sugar producer, a 1kg packet of brown sugar now costs ZWL$70.22 from ZWL$63.84 while a 2kg packet is now selling at ZWL$140.45 from ZWL$127.68. Also, a 5kg is now going for ZWL$351.12 and 10kg pegged at ZWL$702.24.

In the same vein, the pricing table shows that a 1kg packet of white sugar increased by 10 percent to ZWL$73.93 from ZWL$67.21. A 2kg packet went up by 10 percent to ZWL$147.86 from ZWL$134.41 previously.

A 5kg and 10kg packet is now selling at ZWL$369.66 and ZWL$739.32 respectively. The prices of basic commodities have been rising rapidly in the country over the past few months as shortages of foreign currency has deepened.

Year-on-year inflation surged to 785.55 percent in May, up from 765.57 the previous month, according to statistics agency ZimStat. Although, the central bank fixed the interbank exchange rate at $25 to US$1 for the duration of the Covid-19 lockdown, street rates have breached the 80x mark.


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