The National, Monday 07th November 2011
PRICES of goods shot up by more than 40% in trade stores throughout Lae city, in Morobe, last weekend.
All major shops were closed giving the trade store operators the opportunity to increase their prices.
Many workers who received their salaries on Friday had nowhere to buy store goods due to the violence in the city.
Some tried to buy food from neighbours.
In trade stores from Bumbu settlement to Bumayong, a 1kg packet of rice rose from K4.60 to K5.50 while K3 cell phone credit cards were going for K5.
Loose cigarettes jumped to K1 from 60 toea and betelnut went from 70t to K1. Mustard was sold separately for 30 toea apiece.
Cracker biscuits, which sold for K1, were going for K1.50 while ice block, which were sold for 20t each, were selling for 50t.
In liquor black markets, the SP Brown stubby went from K5 to K7.
Shops including Freddy’s at Milfordhaven, Pelgens at Chinatown and Milfordhaven, Raumai and Stephens at the market were guarded by police and allowed only 10 shoppers in at a time.
The Lae Bakery at the market was open for most of the weekend but had tight security and served people through security bars before fully opening its doors late yesterday afternoon.