Tuesday, February 28, 2006

Zim battles to hold down food prices

HARARE — The price of bread rose more than 30% as shops opened for business yesterday, the latest blow to consumers in Zimbabwe’s teetering economy.
A regular loaf went up to Z$60000 ($0,60), from the government-controlled price of Z$44000.
Bakers said price increases in uncontrolled ingredients such as sugar and yeast threatened the viability of their businesses, even though they received subsidies for flour in a bid by the government to keep prices down.
The private Confederation of Zimbabwe Industries said that if bakers were prosecuted under state price-fixing regulations, current shortages of bread, a staple food, would worsen, leaving many shelves empty...

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