Bread price down – GMAZ
Prices of goods and services are beginning to respond to the stabilisation of the local currency after the inception of the foreign exchange auction system with the price of bread having gone down.
The latest development comes after the Grain Millers Association of Zimbabwe announced that the price of bread would be adjusted downwards in response to the impact of the newly introduced auction system by the central bank.
A survey by Khulumani news in Harare revealed that the price of bread has gone down to an average of 66 Zimbabwe dollars in a development which has been welcomed by consumers.
Chairperson of the Grain Millers Association of Zimbabwe Mr Tafadza Musarara said the price of bread had initially gone up by a wide margin because millers were sourcing foreign currency to import wheat from the highly priced parallel market.
The latest development signals the positive impact of the foreign exchange reforms and success of the foreign currency auction system which in today’s session traded in excess of 13 million us dollars.
Prices of other goods and services are also expected to respond accordingly.