News / National
Brace for bread price hike: GMAZ
12 Jul 2022 at 16:17hrs | Views
Consumers should brace for the imminent bread price hike, the Grain Miller's Association of Zimbabwe (GMAZ) has said in a statement.
GMAZ said the latest development is caused by the continued weakening of the local currency as well as the recent global increase in fuel prices.
Bread which by the beginning of the year was going for almost ZWL$100 is poised to go beyond the ZWL$1000 due to the latest anticipated hike.
"The currency devaluation has severely impacted on the general operation cost. There was also an upward review of prices of fuel.
"The aggregate impact of these movements will be around 10% in the increase of flour to bakers. However, individual Miller's and bakers will continue to deliberate on prices, leveraging on quantity discounts, payment terms and other considerations", read part of the statement.
See the full statement below:
GMAZ said the latest development is caused by the continued weakening of the local currency as well as the recent global increase in fuel prices.
Bread which by the beginning of the year was going for almost ZWL$100 is poised to go beyond the ZWL$1000 due to the latest anticipated hike.
"The currency devaluation has severely impacted on the general operation cost. There was also an upward review of prices of fuel.
"The aggregate impact of these movements will be around 10% in the increase of flour to bakers. However, individual Miller's and bakers will continue to deliberate on prices, leveraging on quantity discounts, payment terms and other considerations", read part of the statement.
See the full statement below:
Source - Byo24News
