CFTC warns businesses against unjustifiable price increases on essential goods

Competition and Fair Trading Commission CFTC has warned business enterprises against unjustifiable price increases on essential goods.

In a statement CFTC executive director James Kaphale said has noted with great concern the conduct given a prevailing stability in inflation.

Kaphale also said it is unacceptable for enterprises to take advantage of the covid-19 situation to over-price essential commodities unreasonably.

As such Kaphale said “we will not hesitate to take punitive action against those involved in the malpractice.”

Innocent Heleme CFTC spokesperson and says the commission has penned those involved in the malpractice to justify their conduct.