Retailers and consumers said they were surprised by the latest 13,8 per cent hike in the price of bread effected by suppliers on Wednesday.
Bakers increased the retail price of bread this week to $82 from $72 and consumers feel the move is not justified.
Confederation of Zimbabwe Retailers (CZR) president, Denford Mutashu, said they were caught off-guard by the latest increase but suggested that the price hike could be linked to the rising cost of production. He said:
We (retailers) were caught off-guard by the increase in the price of bread but may point to the continued increase in rates and utility charges that have not respected stability in the economy brought about by the forex auction system.
The increases in the cost of production may have piled pressure on bakers. It’s difficult to hold price as a business when costs increase.
Meanwhile, national Consumer Rights Association spokesperson, Effie Ncube, said poor and low-income households have been robbed of celebrating Christmas and New Year.
He said the price hike has no business justification whatsoever and Government must step in and prevent the “punitive and unjustifiable bread price hike”.