Mealie-Meal Prices Drop As Zimbabwe Dollar Strengthens

THE Grain Millers Association of Zimbabwe (GMAZ) has slashed mealie meal, salt and flour prices in line with a strengthening Zimbabwe dollar.

Galloping inflation had left most basic commodities priced beyond the reach of many already struggling Zimbabweans with haphazard exchange rates raising them astronomically.

A statement released by GMAZ indicated new pricing was aimed at protecting consumers after noting considerable stabilisation of the Zimbabwe dollar.

Consumers will now fork out US$2.90 or ZW$15,947 for a five-kilogramme bag of maize, US$5 or ZW$27,594 for a 10kg bag and US$9.50 for a 20kg bag.

"The current stable economic environment was, regrettably, preceded by a few weeks of price madness that invariably affected basic commodities, leaving consumer disposable income gravely eroded. It is uncontroverted, therefore that the current stabilisation must show a corresponding decrease in prices of basic commodities," read the statement.

"Accordingly, and in the interest of protecting the consuming public, we hereby publish the following Manufacturer Maximum Recommended Retail Prices (MRRP), as a guide to both distributors and consumers of some of our key products."

The Zimbabwe dollar has considerably gained on the much-preferred US dollar after fears of a speedy spiral that threatened savings and salaries of civil servants especially, in May.

This article originally appeared on New Zimbabwe

Photo: New Zimbabwe