{"id":26262,"date":"2020-08-09T19:00:42","date_gmt":"2020-08-09T17:00:42","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=26262"},"modified":"2020-08-09T19:00:42","modified_gmt":"2020-08-09T17:00:42","slug":"prices-should-actually-be-going-down-govt-blocks-bakers-plan-to-hike-bread-price","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/prices-should-actually-be-going-down-govt-blocks-bakers-plan-to-hike-bread-price","title":{"rendered":"\u201cPrices Should Actually Be Going Down,\u201d \u2013 Govt Blocks Bakers\u2019 Plan To Hike Bread Price"},"content":{"rendered":"

The Reserve Bank of Zimbabwe (RBZ) has blocked plans by bakers in the country to raise bread price from an average of ZW$60 to ZW$80 arguing that the move was not justified.<\/p>\n

The RBZ governor Dr John Mangudya also told bakers during last week\u2019s Grain Millers Association of Zimbabwe (GMAZ)\u2019s online meeting that was also attended by bakers and millers that bakers and millers will now be prioritised for foreign currency allocation during the weekly forex auction. He added:<\/p>\n

Bakers have no reason to justify any bread price increase because when the price of bread was $79, it was based on a speculative black market rate of between $100 and $120 per US$1.<\/p><\/blockquote>\n

\n

We expect bread prices to go down given the fact that bakers are now accessing forex at the auction at a much lower rate of $80 against US$1.<\/p><\/blockquote>\n

Prices of commodities in the country have been going up in recent months mainly due to the rapid loss of the value of the local currency compared to other currencies on the parallel foreign currency market.<\/p>\n

The hyperinflation in the country also eroded workers\u2019 salaries thereby triggering prolonged industrial actions.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Reserve Bank of Zimbabwe (RBZ) has blocked plans by bakers in the country to raise bread price from an average of ZW$60 to ZW$80 arguing that the move was not justified. The RBZ governor Dr John Mangudya also told bakers during last week\u2019s Grain Millers Association of Zimbabwe (GMAZ)\u2019s online meeting that was also […]<\/p>\n","protected":false},"author":84,"featured_media":26263,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[187,653],"class_list":{"0":"post-26262","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-forex","10":"tag-rbz"},"yoast_head":"\n\u201cPrices Should Actually Be Going Down,\u201d \u2013 Govt Blocks Bakers\u2019 Plan To Hike Bread Price - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has blocked plans by bakers in the country to raise bread price from an average of ZW$60 to ZW$80 arguing that the move\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prices-should-actually-be-going-down-govt-blocks-bakers-plan-to-hike-bread-price\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cPrices Should Actually Be Going Down,\u201d \u2013 Govt Blocks Bakers\u2019 Plan To Hike Bread Price\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has blocked plans by bakers in the country to raise bread price from an average of ZW$60 to ZW$80 arguing that the move\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prices-should-actually-be-going-down-govt-blocks-bakers-plan-to-hike-bread-price\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-09T17:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2020\/08\/bread.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"660\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prices-should-actually-be-going-down-govt-blocks-bakers-plan-to-hike-bread-price\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/prices-should-actually-be-going-down-govt-blocks-bakers-plan-to-hike-bread-price\",\"name\":\"\u201cPrices Should Actually Be Going Down,\u201d \u2013 Govt Blocks Bakers\u2019 Plan To Hike Bread Price - 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