The price of bread has increased by 10% with immediate effect. The increase means that the standard loaf of bread will now cost US$1.00, up from 90 cents.Â
Stakeholders in the Bakers Association of Zimbabwe, Grain Millers Association and the National Incomes and Pricing Commission have agreed to increase the price of bread by 10%.
Bakers Association of Zimbabwe Chairman, Mr. Cydwell Chitehwe said the 10% increase is fair considering that the workforce is not earning much.
â€œBakers agreed on 10% increment taking into account low wages that workers are earning and change is still a problem as currently consumers are forced to buy sweets for ten cents to get to a dollar as a loaf of bread is costing 90 cents,â€ said Chitehwe.
Grain Millers Association of Zimbabwe Chairman, Mr. Tafadzwa Musarara said millers had settled for a 20% increase in flour-related products to ensure availability of the product.
Mr Musarara said: â€œPrices of wheat have increased by 80% which translates to 20% on the landed price, but we have agreed on a 15% increase to ensure product availability.â€
National Incomes and Pricing Commission Chief Executive Officer, Mr. Esau Ndlovu commended stakeholders for carrying out extensive consultations before increasing prices.
However, confusion still mars the new price as some supermarkets were already selling a standard loaf at one dollar citing change problems. The stakeholders claim that the price hike has been caused by the impact of the third biggest supplier of wheat Russiaâ€™s ban of wheat exports.
It is not clear whether the impact has already reached Zimbabwe or whether the increases are mere speculation.