The price of everything is going up and everyone is blaming the war in Ukraine but the government of Zimbabwe has to take a share of the blame. When the war broke out they failed to introduce substantive measures to tackle the ensuing price shocks. Anyway, sugar is the latest item to see a price hike. 2kg of sugar will now be selling at US$3.25 up from the usual US$2.50.
Below are the new sugar prices as of 14 May:
- 1kg of sugar will now be selling at US$1.53 for brown sugar and US$1.62 for 2kg of white sugar
- 2kg will be now selling for US$3.06 and US$3.25 for brown and white sugar respectively
- For 5kg prices are US$7.65 and US$8.12
- For 10kg US$15.30 and US$16.25
This is not the end. Expect a lot of manufacturers to increase their prices as well in a bid to make sure that they are not left behind and in continuing to meet costs. The thing about bad policies is that even if the government does eventually reverse them it will not necessarily lead to a reversal of these price increases.