Saturday, December 2

Tag: prices

New Hope as South African Food Prices Drop
Food

New Hope as South African Food Prices Drop

South African food prices are now set to drop after inflation hikes.1 The country’s consumers have been experiencing a tough economic climate, with inflation, interest rate hikes, and load shedding all taking their toll.2 According to Stats SA, Consumer price inflation rose upwards to 7.1 percent in March from 7.0 in February.3 This came despite many experts predicting a decline.4 The 14.0% year-on-year increase for food prices and non-alcoholic beverages was one of the biggest contributors to the overall inflation rate, contributing 2.4 percentage points to the total.5 The increase was the largest annual increase since in March 2009.6 In March, this year, the sweets and deserts; fruit and vegetables; and the product category ‘other food products’ all saw huge upward infla...