Bread consumption drops by 40% as price skyrockets

[TamilNet, Saturday, 09 October 2010, 02:07 GMT]
Following the skyrocketing price of a pound of bread, the consumption has dropped by more than a million pieces, the daily Sinhala daily, Lakbima newspaper said in a front page article. According to the news report, approximately 2.5 million pounds of bread are sold on a daily basis, however, with the recent increase in prices following the price hike in wheat flour, the consumption has dropped to a mere 1.5 million pieces.

On October 3rd, the price for a pound of bread increased by three rupees resulting in a consumption slump of approximately 40 percent.

For this year alone, the price of bread has increased by 11 rupees. A pound of bread is currently being sold at approximately Rs. 50.

The newspaper article quoted bakery owners as saying that if the present trend continues and sales continue to drop, they will have no choice but to close down.