By Eric Schroeder
HARARE, ZIMBABWE — A day after the state-run Grain Millers Association of Zimbabwe increased the price of wheat Zimbabwean baking companies followed suit, hiking the price of bread by a similar amount, according to Bloomberg.
Dennis Wallah, president of the National Bakers Association of Zimbabwe told Bloomberg that the price of a loaf of bread has been raised to Z$9.45, up 39% from Z$6.80.
The bread price increase came a day after the Grain Millers Association of Zimbabwe raised the price of wheat to Z$2,200 from Z$1,600.
Wallah told Bloomberg that the bread price increase reflects not only the higher wheat prices, but also elevated input costs of fuel and electricity.
In addition to wheat, the price of maize has increased in recent days.