News / National
Bread price up to $1.40
01 Nov 2018 at 15:47hrs | Views
The retail price of bread is with effect from this Friday expected to be increased to $1.40 per loaf from $1.10.
The move comes on the backdrop of widespread consultations which have been done in terms of the wheat supply value chain.
It has emerged that the consultations held this week which involved the government, through the Ministry of Industry and Commerce, bakeries, regulatory authorities, among other key stakeholders, resulted in the finalisation of the retail price.
Contacted for comment National Bakers Association of Zimbabwe President Mr Ngoni Mazango confirmed this Thursday in a telephone interview with the ZBC news that regulatory authorities also endorsed the increase in the retail price of the commodity.
"Indeed the bread price is definitely increasing effective this Friday to $1.40 per loaf of bread," said Mr Mazango.
While Mr Mazango could not be drawn into revealing further information relating to price stability for the commodity in the future, market watchers say the bread price hikes will impact on inflationary trends in the economy.
Last week bakers had proposed to increase the price of bread to $2.20 from $1.10 citing unsustainable costs.
The government, however, rejected the increase as it was being proposed on the back of price madness and commodity shortages across all economic sectors.
The move comes on the backdrop of widespread consultations which have been done in terms of the wheat supply value chain.
It has emerged that the consultations held this week which involved the government, through the Ministry of Industry and Commerce, bakeries, regulatory authorities, among other key stakeholders, resulted in the finalisation of the retail price.
Contacted for comment National Bakers Association of Zimbabwe President Mr Ngoni Mazango confirmed this Thursday in a telephone interview with the ZBC news that regulatory authorities also endorsed the increase in the retail price of the commodity.
"Indeed the bread price is definitely increasing effective this Friday to $1.40 per loaf of bread," said Mr Mazango.
While Mr Mazango could not be drawn into revealing further information relating to price stability for the commodity in the future, market watchers say the bread price hikes will impact on inflationary trends in the economy.
Last week bakers had proposed to increase the price of bread to $2.20 from $1.10 citing unsustainable costs.
The government, however, rejected the increase as it was being proposed on the back of price madness and commodity shortages across all economic sectors.
Source - zbc
