Amidst the festive season, the economic landscape is fraught with challenges as prices surge and certain goods teeter on the edge of scarcity. Recent fluctuations in prices have notably affected essential food items like sugar, flour, cooking oil, rice, and wheat flour, with reports indicating a marked increase in their costs.
Insights from Economist Dr. Calvin Mudzingiri shed light on the underlying reasons behind this surge. Dr. Mudzingiri highlights the persistent limitation in domestic production as a driving force propelling the continual price hikes.
The scarcity of locally produced goods is identified as a key factor compelling sellers to augment prices.
