Share

INFOGRAPHIC: How food prices spiked in the last year

Cape Town - Food price inflation, although moderating to 8.7% year-on-year in March from 10% year-on-year in February, was still the biggest driver of the  annual consumer price inflation (CPI).

READ: Consumer inflation breather - for now

CPI eased to 6.1% in March 2017 – slightly lower from 6.3% in February 2017, Statistics SA announced on Wednesday. 



NKC African Economics analyst Elize Kruger said it seems as if the food inflation cycle has not yet turned, as monthly declines were reported in only three of the nine food categories, namely bread and cereals, oils and fats and vegetables. These three categories represent 32% of the food basket.

Kruger said most other food categories’ prices are still higher compared to twelve months earlier. 

Meat prices, which comprise 35.5% of the food basket, rose 9.9% y-o-y in March, after recording considerable increases in the previous four months. This increase still reflects the reduced supply following the drought experienced in 2015 and 2016. 

The 1.7%-price increases in alcoholic beverages and tobacco in March reflected the annual increases in customs and excise duties, as announced in the National Budget delivered in February 2017.

Read Fin24's top stories trending on Twitter:


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders