INNSCOR Africa Limited has raised bread prices to $2.45 (wholesale) and $2.70 (retail) for a loaf at its subsidiary, Bakers Inn. The prices went into effect yesterday.
The rise to $2.70 was from a previous price of $1.80 for the recommended retail price of bread per loaf of bread. In a letter to address the managing director of Spar, Terrence Yeatman Baker’s Inn announced: ‘This letter serves to inform you that the price list for Innscor Bakers Inn Bakeries effective Wednesday March 6, 2019 for a standard loaf (all varieties), wholesale delivered price will be $2.45 and recommended retail price will be $2.70.’
Following the issue, National Bakers Association of Zimbabwe dismissed the letter saying no such price changes had yet occurred in the Bakers Inn outlets. “ The price of bread has not increased. If you go around the shops you will see that the bread price is still the same,’ Zinyama said.
The rising prices of inputs and plant spares imports, unreliable potable water, power supply, high labour cost, flour, fuel price increases and imported inflation on all overheads is the cause of the increase of bread price. Last year, bread prices went up from $0.90 to $1.00 before shooting to $1.40.
In November last year, government reversed the bread price to another increase by the bakers , who had pegged a loaf of bread at $2.20 to $1.80.