Finally government has caved to the demands of Belize's baker's and agreed to raise the controlled price for a 16 ounce loaf of sliced bread.
The retail price - which has been held at 1.75 since about 2008 - has been increased to two dollars and ten cents for a loaf of 16 ounce bread. That's a 35 cent - or 20% increase on the cheapest loaf of bread sold.
And it's because the bakers have been saying for years that due to the increase in the cost of flour, baking supplies, labour and plastic bags, they were losing when they sold the 16 ounce loaf for 1.75.
Sources tell us that government had agreed to do this sometime ago - but wanted to wait until after the municipal elections.
The new price goes into effect on Monday. The bakers are also using the opportunity to increase prices on all bread products by 10 cents across the board. Again, they say this is necessitated by the increased cost of inputs.
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