Budapest, August 6 (MTI) – Higher flour prices and a weak forint could drive up the price of bread by an estimated 25-30 percent this autumn, the head of the Association of Hungarian Bakers told business daily Napi Gazdasag on Wednesday.
Jozsef Septe said that producers will probably negotiate with shops before the end of August, and higher prices will be introduced as early as next month. He added that a price hike cannot be delayed any longer.
The price of flour could increase by up to 30 percent due to a bad harvest this year, and the weakening of the forint has also made imported additives more expensive, the expert said. He added that without a price hike several hundred bakeries nationwide could go bankrupt.