DStv Channel 403 Saturday, 23 November 2024

Bloomberg index | Increase in SA food prices slowing down

JOHANNESBURG - Bloomberg’s latest Shisa Nyama index shows that the rate at which food prices are increasing is slowing down.
The latest data shows that prices have slowed down in the last nine months.

Food prices started to ease after the South African Reserve Bank left the repo rate unchanged at their last meeting.

READ: Rising diesel prices may affect food prices

The decision came as inflation fell back within the SARB's target range of between 3 and 6 percent.

Bloomberg's index looks at the price of food prepared at a traditional braai in South Africa.

READ: Cost of Living | Basic food prices on the rise

This includes boerewors, frozen chicken, tomatoes, potatoes, cooking oil, onions and maize meal.

Inflation has kept global food prices stubbornly high and here at home matters have been made worse by the crippling power cuts.
Food producers have incurred more diesel or alternative power costs.

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