Govt Seizes 3,427 Products, Issues 245 Notices as ...

Govt Seizes 3,427 Products, Issues 245 Notices as Prices Hold Steady

Oscar J Jeke- Zim Now Reporter

Government says prices of basic commodities remained relatively stable during the first quarter of 2025, crediting the trend to a tight monetary policy and improved alignment between official and parallel exchange rates—even as viability concerns persist in the retail sector.

Presenting a Cabinet update during the weekly post-Cabinet press briefing, Information, Publicity and Broadcasting Services Minister Jenfan Muswere said routine market surveys showed a narrowing of the exchange rate gap—a key factor in reducing inflationary pressure.

“The public is advised that there is a positive correlation between the movements in the prices of basic commodities and exchange rate movements,” said Muswere. “On a positive note, the gap between the official and parallel market rates has been narrowed during the period under review.”

The government survey monitored the prices of 14 key items—among them mealie-meal, cooking oil, bread, sugar, and soap—and found that local products continue to dominate both formal and informal retail shelves.

Despite the stability, the wholesale and retail sectors faced notable headwinds. Cabinet acknowledged that some outlets resorted to branch closures, destocking, or scaling down operations due to viability challenges.

“The period under review witnessed the wholesale and retail sectors facing significant viability challenges,” the report noted.

In a bid to enforce compliance, government crackdowns have intensified. Inspections led to 137 prosecutions, 245 compliance notices, and the seizure of 3,427 product units from non-compliant retailers.

Authorities have reiterated their commitment to monetary discipline as a tool to support price and currency stability.

“The current tight monetary policy is yielding results in the containment of inflationary pressures and maintaining exchange rate and price stability,” Muswere affirmed.