HARARE — The price of bread nearly doubled in Zimbabwe on Tuesday, another burden for citizens already struggling with a weakening currency and rising prices for basic goods. Bread now costs 3.50 RTGS dollars a loaf, up from 1.80 on Monday, according to prices displayed by most shops visited by Reuters in the capital, Harare. “Bread has now become a luxury. How many people can afford it at this rate?” said Sarah Chisvo, a mother of three who was picking up groceries in a supermarket in central Harare. “The government needs to do something before this gets out of hand.” Zimbabwe ditched its own currency for the US dollar and other currencies in 2009, after hyperinflation reached 500-billion% the previous year. In February, faced with acute shortages of US dollars, Zimbabwe introduced a new currency, called the Real Time Gross Settlement dollar. The RTGS has been losing value ever since, forcing companies to increase prices. Year-on-year inflation raced to 66.8% in March, up from 5...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now