Posted to the web 13 October 2008 Synodia Bhasera Harare A DIRECTIVE by the National Incomes and Pricing Commission (NIPC) to have all prices rolled back to September 26 levels has emptied supermarkets shelves while driving parallel market prices of basic goods to new highs. Last week the Commission ordered private sector companies to revert back to prices that prevailed before the introduction of high-value notes by the central bank last month. NIPC chairman, Godwills Masimirembwa, said businesses had taken advantage of the new $10,000 and $20,000 dollar notes unveiled to the market on September 30 to hike prices and stoke the inflation fires. This is the second time in as many months that the state-run NIPC has had to reverse prices. The first directive to slash prices by half came in July last year, leading to the arrest...
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