Inflation decreases as demand and supply reach equilibrium level
By Bida Elly David
Traders and consumers over the weekend were overwhelmed by the market changes resulting in the decrease in the prices of essential commodities in the market.
This came after an assessment interview was carried out by Juba monitor with traders and consumers towards current market situation.
Osman Ahmed a trader who imports clothes from Dubai said that, the devaluation of the hard currency has simplified the cheap movement of goods that they normally bring abroad.
“Since Dollar devaluated, we have at least experienced that prices of goods and services have reduced making it easy for us to also reduce the prices of our stock. What kept up previously to increase prices of our commodities was the tax imposed on us by the government and the transport cost we incurred while bringing our goods from the point of purchases” he said.
Ahmed furthermore added that they were not happy with the cumulative tariffs that government have imposed on their businesses.
We were not happy with the cumulative taxes imposed on us by the national and the local government. Taxes on garbage, imports, sales and PIT have made our businesses run on loss but now, chamber of commerce has made effort to ensure that taxes are mitigated.
However, Nuela Itiya, a buyer who went to purchase food items in the market reiterated that, at least her family was able to eat three meals a day compared to previous days when prices were high due to increase of prices of goods by domestic and international traders.
“At least seven of my children are able to have three meals a day compared to before. When prices were high, my little disposable income was unable to feed all of us since my husband lost his job during the outbreak of the pandemic in the Country leading to the recession of the economy. I thank the government especially the chamber of commerce for having contributed in balancing the market prices” She reiterated.
The impact in the market equilibrium happened due to series of meetings held by the chamber of commerce with the national trade Union some weeks ago.
Robert Pitia the chairperson of chamber of commerce earlier said, traders should at least reduce prices of goods that shot up due to the fuel issues that happened at the border between Uganda and South Sudan.