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 addressed to the managing director of Spar, Terrence Yeatman Baker’s Inn stated: “This letter serves to inform you that the price list for Innscor t/a 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.”
However, National Bakers Association of Zimbabwe (NBAZ) vice-president Lucky Zinyama 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 other two large bakeries in the country, Proton and Lobels, seem not to have increased their retail prices. Efforts to reach both companies were fruitless.
Since 2017, bread prices have been on the rise.
NBAZ has in the past stated the increase of bread was due to rising prices of inputs and plant spares imports, unreliable potable water, power supply, high labour cost, flour, diesel price increases and imported inflation on most overheads.
Last year, bread prices went up thrice from 90 cents to $1,10 before shooting to $1,40.
In November, government reversed another increase by the bakers, who had pegged a loaf of bread at $2,20 to $1,80.