6005
Bread Prices Rise 30%
Economy, Domestic Economy

Bread Prices Rise 30%

The price of bread, the staple food of most Iranian households, increased 30% on Monday. The administration has allowed provincial governors to increase the prices by up to 30%, the government spokesman Mohammad Nobakht said in a press conference after the cabinet ministers’ session. He said the government will continue paying subsidies for wheat at 6650 rials ($2.4 based on the official rate) per kilo to flour factories and bakeries but simultaneously allows bakeries to increase bread price by 30% in different provinces and in accordance with provincial necessities to compensate for the increase in side expenses. “In the current year, which started March 21, the government allocated 70 trillion rials ($2.6 billion based on official rate) in subsidies for wheat in order to both protect bakeries and improve bread quality.” Nobakht expressed hope that complaints about the quality of bread or its weight will dwindle and bakers will not incur losses.

Short URL : http://goo.gl/pMdR1l

You can also read ...

Iran Signs €500 Million Finance Deal with Denmark
Denmark's Danske Bank signed a €500 million finance contract  ...
Iran, Austria Banks Finalize €1 Billion Finance Deal
Austria's Oberbank signed a finance deal worth €1 billion with...
Britain's Quercus to Invest $600m in Iran Solar Project
British renewable energy investor Quercus will invest over €...
The government will be the sole guarantor for the foreign finance deals.
According to Iran’s budget bill for the 2017-18 fiscal year,...
Chabahar is a strategic port located in Sistan-Baluchestan Province on Iran’s southeastern coast.
Iranian officials have said Afghan traders can get a 25%...
IDRO’s Managing Director Mansour Moazzemi
Seven out of 24 memoranda of understanding between the...
Peugeot 3008 Arrives
The first unit of Peugeot 3008 has entered Iran and seen by...
Sistan-Baluchestan Attracts FDI Worth $1.8b
The southeastern province of Sistan-Baluchestan attracted...

Trending

Googleplus