Are you enjoying relatively low food prices? Well embrace yourself for rise in nearly all consumer goods prices after Parliament passes a new law ending tax exemptions.

This new VAT law is expected to take effect by next month and would see the taxman collect billions in additional revenues.

This move is expected to push up the prices of staple foods such as maize, wheat rice and sugar as well as agricultural inputs, pharmaceuticals and educational materials.

I guess it is high time we stocked up before this new VAT law takes effect.