The country’s consumer watch dog, the Independent Consume and Competitions Commission (ICCC) has announced that the country should see the prices of goods, including fuel to drop in the next six months.
The ICCC Commissioner and Chief Executive Officer, Mr. Paulus Ain said in a press conference this morning that the expected decline in price has to do with the good performance in the global market according to the Food and Agriculture Organization (FAO) latest report.
“The price of agricultural items globally are doing well despite the war in Ukraine and oil prices are also doing well,” said the Commissioner.
He said the results globally should result in the domestic prices dropping, especially for the imported goods.
However, Mr. Ain said domestically, the ICCC now would like to see businesses and companies like shops, fuel stations, and wholesalers pass on that reduction in price to the consumers when the import price drops in the coming months.
Mr. Ain warned that the ICCC will be out working with its partners and stakeholders to monitor how things go in the coming months and would be dealing with any business houses that would continue to defy instruction and charge hefty prices to consumers for goods.