Bread prices in Zimbabwe have reportedly increased by at least 70% - the highest increase since the introduction of multiple currencies in 2009.

According to the reports, the bread price increase came at the back of a shocking fuel price increase last month and was the fourth increase in just 12 months.

A loaf of bread which was last month R18 ($1.40) is now set to cost at least R28 ($2.10) and R31 ($2.35).

The president of the National Bakers Association of Zimbabwe, Ngoni Mazango has confirmed the bread price increase, adding that this was due to currency challenges facing the southern African country.

Some bakers have also argued that the bread price increase was also due to various factors, which included high fuel prices and wheat shortages, and however the Grain Association of Zimbabwe (GMAZ) said bread prices increases had nothing to do with flour prices, as they remained unchanged.

In a statement, GMAZ spokesperson Gerikai Chaunza said the price hikes were not related to flour prices.