Food Prices Soar As Drought And Weak Rand Hit South Africans Hard

The Pietermaritzburg Agency for Community Social Action  (Pacsa) has released a small infographic that puts in perspective just how much food prices have climbed over the last few months.

Pacsa tracks food inflation of 36 basic food items, usually purchased by lower-income households in the city. The cost of its January food basket increased 9% compared to three months ago.

1502REVfoodprices

Pacsa’s research is only based in KwaZulu-Natal, but food prices are increasing across the country.

Business Day reports that the latest report from the National Agricultural Marketing Council, a state body that tracks food price trends, shows that the cost of a basic food basket increased nearly 9% in nominal terms (without accounting for inflation) from December 2014 to December last year.

Drought and the weak rand have caused many retailers to price items higher in a bid to protect their profit margins, hence the higher prices.

source: southafrica.com

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