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
(636 VIEWS)
The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…
An Indian think tank has described Starlink, a satellite internet service provider which recently entered…
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…