As the global economic crunch takes a toll on businesses, the bakery industry is not left out.

Prices of baking ingredients, including flour, sugar, salt and margarine keep rising due to high inflation rates, forcing bread bakers and retailers to adjust their prices.

Currently, bread is becoming more difficult to afford as the least one can spend on a loaf is ¢10.

Amid the harsh economic challenges, bread dealers are predicting higher prices in the coming months.

Businesswoman and baker, Maa Reggie, has built her company to the point where it now serves over 6,000 loaves of bread per day to customers both within, and outside of Accra.

She has built a bread factory, restaurant and real estate with her astute business sense. But the bread business has changed in the last two years.

Things have become unaffordable, forcing her to make drastic changes – she has reduced production and raised bread prices.

She believes it is the only way she can ensure her company's survival in these difficult economic times.

“Next month, we will increase the price to maybe ¢14. Some are selling at ¢18 and ¢20, but my bread is affordable.”

Her production costs continue to rise. According to her, the cost of all ingredients for making bread has skyrocketed astronomically.

She has reduced production from 6,000 loaves per day to approximately 4,000 loaves per day.

Aside from that, rising LPG and fuel prices are pinching hard.

“Before bread will come out, it’s not easy, especially the gas we use to bake - price is high; they say 50kg but now they have reduced the weight – when you weigh it, you get around 46kg, not up to 50kg.

“The flour too is the same and the sugar too is the same. They’ve reduced the weight,” she said in an interview on the JoyNews Living Standard Series.

The Businesswoman claimed she has sacrificed her profits for the payment of her workers.

"Last month I increased their salaries by 5%. If you don't increase it, they will run away so the profits that we get, we use to pay the workers."

One of her workers, Alex, who has been with the company for seven years attests to Maa Reggie's sacrifice for them.

"The economy is hard, things were initially difficult, but with the help of my madam, things are better. I am able to live and have a place to lay my head," he said.

Change in the price of bread is impacting its consumers. The Ghana Statistical Service reports that the price of bread increased by 43 percent between May 2021 and May 2022.

Stephen Nti, a phone accessories dealer who loves consuming bread said, due to the increase in prices of bread lately, he cannot afford it.

"Bread is now expensive, it did not use to be so. Now, I buy one at 2 cedis when I buy 3, it costs me 6 cedis, but previously I get the three at 3 cedis," he told JoyNews.

Another bread lover, Richard has reduced his purchase of bread from five loaves in a week to two.

"Normally, we buy it at 7 cedis, now it is 14 cedis and 15 cedis and 10 cedis upwards. I use to, but like four and five in a week but now, I buy two."

Many bread sellers have increased their prices to match the cost of production but consumers are unhappy.

Antie Efua, another bread seller said many consumers have turned away because she no longer sells at 1 cedi.

"I do not sell at 1 cedi any longer. it is now 2 cedis and above. These days when we get our supply, we have to increase the prices to make profit."