Outrageous Price Of Oranges In Zimbabwe
Impoverished Zimbabweans are not likely to get a break anytime soon as the faltering economy continues tanking and prices continue shooting sky-high. It seems like Zimbabwe which already holds many dubious records for hyperinflation and ridiculous denominations of money may be embarking on the same trajectory once again judging by the recent price increases, particularly that of a pocket of oranges.
Quite shockingly, a 10-kilogram packet of oranges has an outrageous price of ZWL$644.49 at OK Zimbabwe Supermarkets. OK Zimbabwe Limited is one of the leading retail groups in Zimbabwe with numerous shops across the country and a product range that extends from groceries and houseware products to clothing and textiles.
To outline how ridiculous this price is, this translates to US$38 for the packet on the official interbank rate used by the government. However, on the black market, the one used by the majority of people in the country, this translates to US$26.
Even worse until yesterday, this amount translates to an eye-popping 62 percent of the salary of a civil servant who earned an average of ZWL$1033 per month. However, on Wednesday, the unions representing civil servants accepted a 140 percent increase which will see the lowest paid civil servant earning $2 450. The 140 percent comes after weeks of protracted negotiations with the government which at many points threatened to degenerate into a large scale strike. Despite the increase, most civil servants are unhappy with the increase arguing that with year-on-year inflation estimated at 520% in December by economists, the 140 percent salary increase is just a pittance.
The price of the oranges translates to 26 percent of the new salaries highlighting how just how extortionate the price is. It is well worth noting that due to the extremely high unemployment in the country, civil servants make up the majority of the formally employed people.
iHarare reached out to OK Zimbabwe Limited to find out why the packet of oranges is retailing for such an exorbitant price. We will update the article with their response once we get it.
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The post PIC: Price Madness – This Is The Outrageous Price Of Oranges In Zimbabwe appeared first on iHarare News.