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Search resuls for: "Reuters Zimbabwe"


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HARARE, June 14 (Reuters) - Zimbabwean businesses and households are fearing a repeat of the hyperinflation seen more than a decade ago as prices of basic commodities spike after a sharp weakening in the local currency, despite government efforts to boost it. "I went into the supermarket to buy bread and other groceries items but I was shocked to see that prices had gone up. While some retailers have hiked local currency prices, others are trading exclusively in U.S. dollars to cushion themselves from the weakening Zimdollar. "It is not possible for the retailer to procure goods with U.S. dollar and sell them in local currency," Confederation of Zimbabwe Retailers president Denford Mutashu said. As panic over the weakening Zimdollar spreads, there have been calls for Zimbabwe to again fully dollarise the economy.
Persons: Denford Mutashu, Gift Mugano, John Mangudya, Mangudya, Nyasha, Olivia Kumwenda, Mark Potter Organizations: U.S ., of Zimbabwe Retailers, Reuters, Thomson Locations: HARARE, Zimbabwe, Reuters Zimbabwe
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