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Zim cost of living spirals
02/03/2007 10:33 - (SA)
Harare - Zimbabwe's main consumer watchdog said on Friday it was greatly concerned at a surge in the cost of living, which has shot up by 49.5% in the last month.
There were huge increases in the cost of soap, vegetables, milk, rice and the staple maize-meal in the month of February, the Consumer Council of Zimbabwe (CCZ) said in its monthly report.
It now costs Z$686 115 ($2 744.5 at the official rate, about $100 at the more realistic parallel market rate) for a family of six to meet its basic needs per month, the council said.
That means that a recent salary hike for disgruntled teachers - up from Z$84 000 to around Z$520 000 per month including allowances - will still not allow many of them to live in dignity.
The CCZ blamed the price hikes on unscrupulous businessmen who, it said, were trying to protect themselves from the effects of a four-month price freeze supposed to start on Thursday.
This has exposed many consumers to poverty as their salaries have been lagging behind whilst prices shoot to astronomical levels, the watchdog said.
There is as yet little indication the freeze will be followed by most companies.
Zimbabwe has been wracked by soaring inflation for most of the last six years, bringing hardship to ordinary Zimbabweans and effectively reducing the professional middle class to penury. The annual inflation rate in the country is currently the highest in the world, at 1 593.6%.
Sapa-dpa
- SAPA
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