Tonight, we learned that there will be no increase in the Price of a 16 once loaf of bread on Monday.
On December 4th the Collective Bakers Association unilaterally declared that the price for that loaf would increase due to a rise in the cost of ingredients, and inputs. The government had cautioned the Collective bakers that increasing the price without GOB's approval would be illegal.
The association issued another release today stating that they have since met with the CEO in the ministry of agriculture and the Director of the Supplies Control Unit and they have given a commitment in writing that they will place the bakers on a subsidy program.
As a result of this, the bakers have agreed to not increase the price of bread on December 18. The price of bread will remain at $1.50 wholesale per 16 oz. loaf and $1.75 retail.
