The cost of basic goods and services such as electricity, airtime, cooking oil, detergents and pay TV subscriptions will from tomorrow increase marginally with the restoration of Value Added Tax (VAT) to 16 per cent from 14.
The increase in consumer goods prices comes after Parliament voted to end tax cuts put in place in April to cushion the economy from the impact of the Covid-19 pandemic from January 1, a move aimed at plugging revenue shortfalls but investors said it would hamper a recovery.
