Bread price in Zimbabwe increased by 15%

Published 2022년 1월 20일

Tridge summary

The price of flour has increased by 6.5%, leading to a 15% rise in the cost of bread. The Grain Millers Association of Zimbabwe blames the increase on the auction system's upward trend, higher fuel prices, and the use of alternative energy sources due to power outages. The Consumer Council of Zimbabwe has labeled the bread price hike as unjustified and claims that bakers are setting prices based on the black market rate, rather than the lower rates they receive from the Reserve Bank of Zimbabwe auction floor.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: Bread price up 15% – NewsDay Zimbabwe BY METHEMBE SIBANDA THE price of flour has gone up by 6.5% from $112 000 to $119 000 per metric ton, a situation that also pushed the price of bread up by 15% from $175 to $210. Grain Millers Association of Zimbabwe chairman Tafadzwa Musarara on Tuesday said the new flour prices were effective from January 9, 2022. Musarara said the price hikes were caused by the upward trend in the exchange rate on the auction system, as well as the increase in fuel prices. “The price movement has been occasioned by the upward movement rate on the auction since our last review, increase in fuel, maintenance and running costs, increases in use of substitute\alternative sources of power due to intermittent Zesa supplies, increases in costs of labour, and increases in the price of imported blending wheat,” read the GMAZ statement. Musarara also said GMAZ is currently working on its wheat contracting program, which will implement the government’s Command ...

Source: Zimbabwesituation