Price of bread to be reduced by 10 percent by Friday


The price of bread is expected to go down 10 percent by Friday and is likely to fall further in the coming months, tracking international trends, an official has said.

Since the adoption of the multi currency regime in 2009,  a standard loaf of bread has been selling at $1 owing to the unavailability of smaller denominations for change.

The central bank has since introduced coins in denominations of one, five, 10 and 25 cents valued at par with US cents to address the price distortions.

“We met with representatives from several business associations including bakers and retailers and agreed that the rounding up of retail prices of bread to $1, 00 was no longer fair and necessary in light of the introduction of bond coins by the Reserve Bank of Zimbabwe,” Grain Millers Association of Zimbabwe president, Tafadzwa Musarara told a press conference today.

“Retailers may apply mark ups of up to 10 percent on bread prices and the varying prices of bread from different bakeries must be allowed to reflect on the shelves by way of different retail prices.”

Comparatively, in South Africa, the price of a standard loaf averages 70 cents.

Several bakers and retailers attended the press briefing.- The Source


Don't be shellfish... Please SHARETweet about this on Twitter
Share on Facebook
Share on LinkedIn
Email this to someone
Print this page

Like it? Share with your friends!

Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


Your email address will not be published. Required fields are marked *