Commerce Minister Manniram Prashad said bakers have agreed to reduce the cost of bread and other flour-based products after a recent meeting at his office.

However, Prashad said he could not give an exact percentage of the reduction, as the bakers will make that decision. According to a Government Information Agency press release Prashad said his ministry will continue to work with bakers to see how the consuming public would benefit from the reduction. The minister said that the level of reduction would vary depending on the weight of the items and the bakers are expected to announce the revised price list soon.

On Wednesday the National Milling Company announced a 17% reduction in the price of flour.  One bag of flour will be reduced by $1,280 while consumers will benefit from a $20 reduction of a one-kilogramme packet of Thunderbolt flour.

Prashad said too he plans to meet with the Demerara Oxygen Company to discuss reducing the cost of cooking gas since commodity prices are declining on the world market.