News / National
Bread price go up in Zimbabwe
07 Jan 2024 at 12:32hrs | Views
The price of bread in Zimbabwe has increased recently, and bakers are attributing it to taxes mentioned in the 2024 National Budget by Finance Minister Mthuli Ncube. Bakers used to sell bread for around US$0.90 but have now raised the price to US$1. As a result, retailers and tuckshops have also increased their prices from US$1 to US$1.20.
According to The Mirror, bread sales have decreased in tuckshops across Masvingo following the price increase. Tuckshop owners believe the hike is due to an increase in tollgate fees from US$2 to US$4. Masvingo mainly receives its bread supply from Bulawayo. One tuckshop owner in Mucheke D mentioned that they only sold one loaf of bread the entire morning.
"There is a high likelihood that we will further increase the price to around US$1.20.
Retailers like Food World, Choppies, Pick n' Pay, OK and others, were already selling bread at around US$1.15 before Finance Minister Mthuli Ncube introduced a value-added tax (VAT) of 15 percent on goods.
According to The Mirror, bread sales have decreased in tuckshops across Masvingo following the price increase. Tuckshop owners believe the hike is due to an increase in tollgate fees from US$2 to US$4. Masvingo mainly receives its bread supply from Bulawayo. One tuckshop owner in Mucheke D mentioned that they only sold one loaf of bread the entire morning.
Retailers like Food World, Choppies, Pick n' Pay, OK and others, were already selling bread at around US$1.15 before Finance Minister Mthuli Ncube introduced a value-added tax (VAT) of 15 percent on goods.
Source - pindula
