Thursday, September 12, 2019

Bread Prices Soar 39% Overnight in Zimbabwe

Do you want to bet that the Zimbabwe central bank money printers have been working overtime?

Zimbabwean baking companies increased the price of bread by 39%, reports Bloomberg.

A loaf of bread now costs Z$9.45 (81 U.S. cents), compared with Z$6.80 before, Dennis Wallah, president of the National Bakers Association of Zimbabwe.

 The state-run Grain Millers Association of Zimbabwe on Monday hiked wheat prices to Z$2,200 from Z$1,600.

"Everything else in terms of the cost of production has been going up; fuel and electricity,” Wallah said.


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