Bread Prices Soar
3 May 2023
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THE average price of a standard loaf of bread shot to $1 800 which is equivalent to US$1,70 at the official exchange rate of $1 059,60 to the greenback.

This represents a 109% hike on the $860 that was being charged mid-last month for the same loaf.

In an interview with a local daily yesterday, Consumer Council of Zimbabwe executive director Rosemary Mpofu said the consumer watchdog had noted with “great concern” increases in prices of basic commodities such as bread.

“Consumers are currently facing numerous challenges from high consumer prices, low wages and incomes. With schools set to open soon they will be further hard pressed in paying school fees, levies and buying uniforms with some schools said to be demanding foreign currency payments only,” Mpofu said.

“We appeal to retailers, producers and monetary authorities to dialogue and address issues driving prices high, among them being the volatile foreign currency exchange rates, in order to contain run-away price hikes causing untold suffering to consumers, meanwhile urging consumers to seek other healthy alternative foodstuffs, home grown, in order to cushion themselves against high prices.”

National Bakers Association of Zimbabwe president Luckymore Zinyama said it had set the bread price at US$1, but different exchange rates were influencing the high prices.

Statistics by the Reserve Bank of Zimbabwe showed that the US dollar and the Zimbabwe dollar were trading at a weighted average rate of US$1: $1 059. On the parallel market, the local currency was trading at around $2 100 against the US dollar.

“We have not changed the wholesale price of our bread. It is still at US$0,90 and we expect the retailers to sell it for US$1,” Zinyama said.