Zimbabwe nearly doubles bread price as economic woes mount
Citizens already struggling with a weakening currency and rising prices for basic goods
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.