Prices of nearly all basic goods skyrocketed this week as the Zimbabwe dollar plunged in value to a record low, leaving disposable incomes dwindled, Business Times can report.

The jump in prices comes at a delicate moment for Zimbabwe after annual inflation slowed to 87.6% in March from 92.3% in February this year.

This has been a major blow mainly to millions employed in the civil service who have had their recent paltry pay rise affected leaving their situation dire and now demanding more from the government.

As the local currency continues to lose value against all major currencies, at the auction system, the Zimbabwe dollar this week plunged to ZWL$944.71:US$1 from ZWL$671: US$1 in January this year. On the parallel market the Zimbabwe dollar was this week trading at between ZWL$1 600:US$1 and ZWL$1 700:US$1.

The spike in prices comes as Zimbabwe heads to the polls, possibly in August, which could force authorities to intervene, with disastrous consequences.

A survey by Business Times this week shows that the cost of a 2-litre bottle of cooking oil had risen to ZWL$4 749.99 from ZWL$3649.99 last week while bread was this week selling at ZWL$1 399.99 from ZWL$989.

A 2 litre Mazoe drink is now selling at ZWL$4 149.99 from ZWL$3 600 last week.

A 10kg roller meal is selling at between ZWL$6 999.99 and ZWL$8 999.99 from ZWL$5899.99 last week.

A 2kg pack of rice and a bar of soap are now selling at between ZWL$2199.99 and ZWL$3899.99 and ZWL$1349.99 from ZWL$1 600.99 and ZWL$984.99 respectively.