Zambia Consumer Association (ZACA) has urged the Bank of Zambia to consider stabilizing the exchange rate which is an escape goat most retailers are using to increase prices of essential commodities.
Association Executive Secretary Juba Sakala told Money FM News in an interview that ZACA is concerned with increase in prices of basic essential commodities, thereby affecting the consumers’ welfare.
Mr. Sakala noted that price hikes are distorting the budget because it’s has come to the Association’s attention that retailers are increasing prices every 2 weeks, a situation he describes as unfortunate.
“As ZACA, we are concerned with the way prices of basic essential commodities have increased in the recent past. This will definitely affect Consumers welfare.”
“It is basically distorting the budget because it has come to our attention that retailers are increasing prices every fortnight, this is unfortunate indeed” Mr. Sakala said.
He advised the Central Bank to quickly move in with short term measures because this has made most Consumers completely failing to acquire day to day basic essential groceries.
“We are appealing to Government especially the BOZ to help arrest this situation by stabilizing the exchange rate which is an escape goat most of the retailers are using,” he added.