* Consumers are experiencing one of the highest cost of living as a result of the huge devaluation of the kwacha
* And shortages of foreign exchange that have drastically depleted consumers spending power
By Duncan Mlanjira
Consumers Association of Malawi (CAMA) maintains that prices of basic goods and services have risen up by an average of 70% compared to last year’s prices wishes — thus consumers need to be extra careful on festive season spending.
Advertisement
In a public statement issued this afternoon, CAMA Executive Director, John Kapito said “consumers are experiencing one of the highest cost of living as a result of the huge devaluation of the kwacha and shortages of foreign exchange that have drastically depleted consumers spending power”.
“It is therefore prudent and advisable for consumers to make careful planning before deciding to spend money during these festive season,” he emphasised. “Prices of goods and services will remain rising in the coming year and the choices we make must reflect current market conditions and based on our depleted incomes which have remained too low to compensate for the high price increases.”
John Kapito
Kapito further advised and warned consumers to be more extra careful when buying goods and services from the market during this Christmas and New Year holidays “to avoid unnecessary purchases and being cheated by unscrupulous traders — who will use every means to sell products at inflated prices”.
He warned that during this period, traders tend “to sell defective products through various means such as promotions or any other form of advertisement”.
Weather update
“Traders will offer their non-salable items, some damaged and expired, at cheaper prices which unfortunately will offer no economic benefits to consumers.”
Kapito stressed that it is, therefore, “the responsibility of consumers to protect their Rights by being critical and assertive when buying every product or service on the market”.
Advertisement
And he offered some tips, that include:
1. Budgeting before any purchases are done;
2. Planning all expenses with family;
3. Avoiding impulse buying or any influence by promotions and advertisements;
4. Avoiding purchase of unnecessary luxury goods and services;
5. Reducing or not going on unnecessary trips or travel;
6. Paying first home rentals, water bills, electricity bills, school fees and buying enough food to last the month of January; and
7. To avoid borrowing money from Katapila and gambling.
“We wish every consumer a Merry Christmas and Happy New Year,” said Kapito.
