Price of bread to be increased by Rs 5 from midnight

COLOMBO (News 1st) - Price of a loaf of bread will be increased by Rs 5 from midnight today(July 17). The All Ceylon Bakery Owners Association said the decision was made following the increase of the price of wheat flour. Meanwhile, the Consumer Affairs Authority has stated that they will initiate legal action against Prima and Serendib for increasing the price of wheat flour without seeking their approval. Director-General of the Consumer Affairs Authority M.M. Fauzer noted that wheat flour is an essential food item and it is mandatory to seek approval of the Consumer Affairs Authority when changing prices. Prima and Serendib have decided to increase their prices by Rs. 7 each per kilogram and they added that their decision has been informed to all the distributors island-wide. The final price might be higher than Rs.7 when taxes are included. The companies cite that the depreciation of the Sri Lankan Rupee against the USD led to this decision 7 months ago. However, the Consumer Affairs Authority state that they will raid shops which sell wheat flour at renewed prices. Although the same companies were charged with allegations of arbitrary price renewals by the Consumer Affairs Authority in the past verdicts are yet to be delivered.