{"id":121039,"date":"2016-04-20T11:46:41","date_gmt":"2016-04-20T09:46:41","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=121039"},"modified":"2016-04-20T11:46:41","modified_gmt":"2016-04-20T09:46:41","slug":"this-infographic-shows-how-rising-food-costs-affects-your-shopping-bill","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/121039\/this-infographic-shows-how-rising-food-costs-affects-your-shopping-bill\/","title":{"rendered":"This infographic shows how rising food costs affects your shopping bill"},"content":{"rendered":"

Consumer Price Inflation (CPI) decelerated from 7% year-on-year (y\/y) in February to 6.3% in March, Statistics South Africa announced on Wednesday, while food costs in March were nearly 10% higher than in March 2015.<\/p>\n

\u201cOn average, prices increased by 0.8% between February 2016 and March 2016,\u201d Stats SA said.<\/p>\n

This falls in line with most economic assumptions, with Rand Merchant Bank analyst John Cairns explaining that \u201cfollowing repeated upside inflation surprises, we expect the number for March to show a sharp, albeit temporary, moderation\u201d.<\/p>\n

Overberg Asset Management said the deceleration would occur due to a 5% cut in the price of petrol. Stats SA confirmed this, saying: “The (transport) index decreased by 0.8% month-on-month (m\/m), mainly due to the petrol price.”<\/p>\n

NKC African Economics said on Wednesday that the drought will keep inflation outside the South African Reserve Bank\u2019s 3% to 6% target range \u201cfor some time to come\u201d.<\/p>\n

In March, the consumer price index for goods rose by 6.9% y\/y (down from 7.9% in February), and the CPI for services increased by 5.7% y\/y (down from 6.1% in February), Stats SA said.<\/p>\n

Provincial annual inflation rates ranged from 5.1% in Northern Cape to 7.6% in Limpopo, it added.<\/p>\n

\"Stats<\/a><\/p>\n

Food costs go up nearly 10% in a year<\/strong><\/p>\n

Food and non-alcoholic beverages CPI saw an increase from 1.3 percentage points in February to 1.5 percentage points in March. The index rose by 9.5% y\/y.<\/p>\n

Food and non-alcoholic beverages contributed 0.3 of a percentage point in March. The index gained 1.6% m\/m. The items with the highest monthly rates were fruit (7.9%), bread and cereals (3.4%), sugar, sweets and desserts (2.3%) and oils and fats (2.1%).<\/p>\n

Food costs have gone up by 9.8% y\/y, with vegetables (18.7%), fruit (18.7%), oils and fats (18.1%), bread and cereals (13.3%) and sugar and desserts (11.7%) increasing the most.<\/p>\n

News24<\/a><\/p>\n

More on inflation in SA<\/strong><\/p>\n

SA inflation could hit 8.1% \u2013 economist<\/strong><\/a><\/p>\n

Inflation shocker for South Africa<\/strong><\/a><\/p>\n

How much more you\u2019re paying for food in South Africa<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New data published by StatsSA shows how food costs in March were nearly 10% higher than in March 2015. <\/p>\n","protected":false},"author":35,"featured_media":114712,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9876],"tags":[26,5769],"class_list":["post-121039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-headline","tag-statssa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/121039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=121039"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/121039\/revisions"}],"predecessor-version":[{"id":121049,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/121039\/revisions\/121049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/114712"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=121039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=121039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=121039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}