The last few days have witnessed a renewed upsurge in prices, particularly bread, which is a staple for most people.
Most Zimbabweans are now forced to downsize their grocery lists because prices continue to go up unabated and if this trend is not halted, inflationary pressures will soon hit hard on the economy.
This is not a call for the return of price controls, but there is a need for the government to act swiftly before the situation spirals out of control and basic commodities are beyond the reach of the majority.
There is need to address shortages of foreign currency on the market because, as long as these persist, prices are bound to continue rising, as retailers would be forced to go to the black market in search of money.
If retailers are to remain in business and avoid shortages, they have no choice, but to seek money on the parallel market and this comes at a premium and with it, inflationary pressure.
While plastic money has been a godsend for consumers, it has had the opposite effect on retailers, as they hardly have any cash at hand for making orders and the little they get is not enough for restocking.
Bond notes were supposed to be a panacea, but at the moment, they do not seem to fit their purpose and are woefully in short supply.
Thus, if the government is to address rising prices, there is a desperate need for the authorities to sort out cash and foreign currency shortages.
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As the recent past has shown, failure to do that will mean Zimbabweans will once again have to contend with hyper-inflation and in the not-so-distant future, there might be a recurrence of shortages of basic commodities.
Zimbabweans are already hard-pressed by an economy that is not functioning well and price increases will only compound their problems.
President Emmerson Mnangagwa told his ministers to come up with quick wins and uppermost in the minds of the economic cluster ministers should be how to address cash shortages and price hikes.
The year 2008 is still fresh in the minds of many and any price hike is a quick reminder of how things may escalate if they are not addressed timeously.
The government has its work cut out, and how it deals with this situation will show how serious the new administration is in turning around the country’s economic fortunes.
