Price of bread to go up

A LOAF of bread is set to increase in price by five to ten cents.

The figure was given by the President of the Bakeries’ Federation, Gabriel Kazasis, who said the rise would take place once current flour reserves run out in approximately ten days.

One contributing factor is believed to be a 20 per cent increase in the price in flour, which has risen by as much as 40 to 50 per cent in the UK and France over the past 12 months.

The rise in the price of fuel and sugar has also been blamed.

Kazasis noted, however, that bread in Cyprus was the cheapest in Europe, despite production costs being higher, due to the island’s small size.

It’s believed that a loaf of bread currently costing 65 cents will soon be on sale for 70 cents, while there will be an increase of ten cents on loaves of higher value.

The increase in international flour prices is also set to raise the price of pasta by ten per cent, with cereal and biscuits also set to go up.

The President of the Consumers’ Association said that unfortunately for consumers, some increases were justified. “However, the magnitude of the increase is our concern.”

Petros Marcou added that flour and wheat prices had risen on the international markets due to increased consumption and a reduction in production.

“Our position is that increases should be restricted to justified and substantiated levels,” he said.

“We are also concerned over stock levels, which should be fully depleted before any price hikes. We will be closely monitoring the situation and will not hesitate to name any enterprises which in our opinion will try to exploit the consumer by trying to impose higher prices than those justified.”

Marcou also called on the Commission for the Protection of Competition to keep an eye on the situation, “so possible collusion does not occur”.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.