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*Consumers Advised Against Panic-buying*

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The Consumer Council of Zimbabwe (CCZ) has advised consumers against panic-buying following a sharp increase in the price of basic commodities triggered by an increase in the price of fuel on Tuesday.

CCZ chairman Philip Bvumbe opined that panic-buying will result in shortages of goods forcing manufacturers and retailers to raise prices. Said Bvume:

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> Last week, as you are aware, the parallel market rate went up to about 1:7 and all the goods in shops went up and there was panic buying.

> What we are urging consumers is that they must not go on a rampage of panic buying. Suppliers and retailers have been trying to reduce their prices because of the demand which has been low for some time.

> Let us be mindful that the more we have an artificial demand for products, the retailers and manufacturers will be justified to increase prices.

> We encourage people not to go on a panic-buying spree.

*More: Newsday*

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