All of Zimbabwe’s leading bakers have increased the price of bread to more than $45 ZWL according to our latest price survey. This hike is probably in response to the ever galloping rate between the US dollar and the nascent Zimbabwean dollar. In the last three weeks the rate has moved up from around $50 ZWL to 1 USD to the current $70+ ZWL Per USD.
|Bread Baker’s Inn||$45.99|
Bread both cheap and expensive
At the current rate of $75 ZWL per USD as at June 3 the new bread prices translate to roughly $0.60 per loaf. Thus in real terms, bread is now cheaper than during the USD era when it sold for between $0.90 and $1.10 in shops. However there is a little big problem: people are for the most part still earning their salaries in the RTGS dollar. These salaries are not being pegged on the USD dollar and are therefore stagnant.
So in essence bread has never been so cheap and expensive at the same time.