CAPE TOWN: Food prices and high transport costs continue to put pressure on inflation in South Africa. The latest figures from Statistics South Africa show that consumer inflation figures are now at 6.4% from the 6.1% recorded the previous period. This is above what the market had anticipated. As prices of basic items continue to increase economists have warned that consumers will continue to dig deep into their pockets.
Economist, Xhanti Payi says, “If we listen to what agriculturalists and farmers are telling us, food prices are going to be under pressure, so that will continue to be a big pressure and of course we know that the volatility of the rand is still a big threat especially that we don’t know where oil prices are going. But if oil prices and the rand stay where they are the price will abate.”
