In Zimbabwe, the price of bread jumps by 109%

Published 2023년 5월 3일

Tridge summary

Zimbabwe is experiencing a significant increase in the price of bread, with a standard loaf now costing $1,800, a 109% hike in just a short period of time. This price surge is due to the volatility of the foreign currency exchange rates in the country. The Consumer Council of Zimbabwe and the Confederation of Zimbabwe Retailers have called for dialogue to address the high prices and urged consumers to seek alternative sources of food to mitigate the impact of these price increases. The decline in the value of the local currency, following the reintroduction of the local currency in 2019 after a decade of dollarisation, is a major contributing factor to the rising costs of basic goods and services.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: Bread price jumps 109% –Newsday Zimbabwe 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 charged mid-last month for the same loaf. In an interview with Newsday 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 ...

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