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Home International Customs

Food inflation in shock rise to 8.7%

byCT Report
04/02/2016
in International Customs, World Business
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JOHANNESBURG: Food prices in South Africa rose by an average of 8.7 percent between December 2014 and December 2015 and neighbouring Lesotho yesterday declared a national emergency as the drought continued to hit farming communities across the southern African region.

The food basket survey released yesterday by the Markets and Economic Research Centre (MERC) showed that prices have exceeded the inflation rates of the consumer price index (CPI).

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The food basket consists of, among other things: basics such as meat, margarine, baked beans, chicken portions and vegetables. The survey said the most affected items were basic food products that the poorest of the poor required for their sustenance and nutrition.

During the period, fats and oils rose by 15,8 percent, bean products by 1.5 percent, dairy and eggs by 8.6 percent, vegetables by 11.2 percent, coffee and tea by 5.3 percent) and bread and cereals by 9.5 percent.

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