RBZ Justifies Bread Price Increase

6 years agoWed, 09 May 2018 06:27:08 GMT
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RBZ Justifies Bread Price Increase

Speaking to The Herald, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said the increase in the price of bread from 90 cents to $1 is above board. Mangudya said the increase was arrived at following wide consultations across all sectors.

Said Mangudya:

The industry took necessary measures to increase the bread prices as they presented their challenges and justifications to the Industry, Commerce and Enterprise Development Ministry and National Competitive Commission (NCC). And all processes were above board.

However, Grain Millers Association of Zimbabwe (GMAZ) said there was no need for a bread price increase as flour prices have not increased over the past two years.

More: Herald

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