Commodity Prices Shoot Up In Lira

By Martin Ekanya and Patrick oyee BARELY four days to the March 12 presidential polls, prices of commodities in Lira have shot up, causing public outcry. The New Vision market survey carried out on March 7, indicated that the price of a bar of soap, for instance, had increased by over 50%. The survey attributed the increment to low supply by the producers. The survey also indicated that there was a high election fever among traders who had started hoarding commodities for fear of an eminent war after the elections. It noted that Many people had stocked food items in bulk in case violence erupts after the elections. The Mukwano depot manager in Lira, Mr. Rafeeq, assured residents that a consignment of 2,000 boxes of soap was expected within two days. He said Indian businessmen were planning to close up their businesses until after the polls. Prices of other food items like meat, rice and matoke remained stable. The New Vision also learnt that several people were over withdrawing money from banks prompting bankers to operate late hours. Ends