Bad News Bread Price Goes Up
The price of bread has increased at some retailers in Zimbabwe to about $2.50 a loaf. The new prices came into effect this weekend.
Leading bakery Baker’s Inn is giving its customers the option to buy in US$0,70 per loaf while demanding $2,50 per loaf for those paying in bond notes.
The old bread price was about $1.50, but the bread was not readily available at conventional outlets at that price.
Zimbabweans have expressed shock at the new price. A customer that bought bread today at Innscor’s Bakers Inn in Mutare said they were shocked when they were asked to pay $5 for 2 loaves.
Some retailers have however maintained the old price of $1.50.
The prices of basic commodities have been going up due to the currency crisis faced by the country. The increase in fuel prices by about 150% on 12 January 2019 worsened the situation as retailers have noted the higher costs of business.
The current parallel market of the US dollar to RTGS balances is 1USD : 3.9 RTGS.
The government has said that retailers are taking advantage of the situation to profiteer.
Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said he had not expected the price to go up adding he would comment more substantively today.
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