/ 9 August 2001

ZIM BREAD PRICE DOUBLED IN SEVEN MONTHS

THE cost of bread in Zimbabwe has more than doubled since January, after a seventh price hike in as many months, a consumer watchdog said on Tuesday. The Consumer Council of Zimbabwe (CCZ) said bread prices went up by 15% this week, but the domestic Ziana news agency reported a hike of between 7,5% and 20%. A standard loaf of white bread now costs around Z$50 up from Z$23 ($0,42) in January this year. The retail price of bread has been going up nearly every month since the beginning of the year by an average 15%. The consumer council has condemned the bread price hike, which bakers blame on rising cost of inputs — flour, sugar, yeast, labour and fuels. The current economic crisis is characterised by inflation at around 60%, unemployment hovering around similar rates and critical shortages of foreign currency. – AFP