Govt Planning To Foster Price Stability On 14 Basic Commodities - Report

The govt has reportedly identified 14 basic commodities that reportedly needs instant measures to foster price stability The Sunday Mail reports. The matter came to light when Industry and Commerce Secretary Mavis Sibanda said:

We are working hard; we are meeting with the bread people; all basic commodities; 14 basic commodities. Those are the ones which we are really worried about. Things like sugar, bread, mealie-meal, cooking oil; those are the things which we are really worried about as well as seed and fertiliser. We are also working on a paper which we are going to give to His Excellence, The President to say, ‘What are the people saying? To tell the truth as much as possible to say ‘What are the business people saying?’ We all want to get this thing (of prices increases) to a conclusion, we cannot allow it

Inflation has ravaged the country for the second time in a decade with the last official inflation figure published by the IMF last month close to 300%. Basic goods prices have been going up on a daily basis owing it to the rapid loss of value of the new currency the RTGS dollar against the US.