{"id":588660,"date":"2022-05-20T14:25:42","date_gmt":"2022-05-20T12:25:42","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=588660"},"modified":"2022-05-20T14:25:42","modified_gmt":"2022-05-20T12:25:42","slug":"eat-fruit-talk-more-with-loved-ones-bank-of-america-tells-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/588660\/eat-fruit-talk-more-with-loved-ones-bank-of-america-tells-south-africa\/","title":{"rendered":"Eat fruit, talk more with loved ones, Bank of America tells South Africa"},"content":{"rendered":"

South Africans seeking respite from high inflation and looming price increases should consider going vegan, drinking less alcohol and avoiding bread, according to Bank of America.<\/p>\n

While the inflation rate held steady near the ceiling of the central bank\u2019s target range of 3% to 6% in April, the \u201cpain points\u201d for annual and monthly price increases were in the costs of meat products, fats and oils and alcoholic beverages, Tatonga Rusike, BofA\u2019s sub-Saharan Africa economist, said in a note. Increases in the prices of bread and cereals are still to come, he said.<\/p>\n

\u201cIt is probably worthwhile to eat fruits and vegetables, at home, and be in touch with loved ones as communication costs fall,\u201d he said.<\/p>\n

The savings could be used to cover \u201cless avoidable\u201d looming fuel and electricity prices, he said. Gasoline prices that are likely to increase by about 16% in June will drive annual inflation up to 6.5% and see the rate average 6% in 2022, according to Bank of America estimates.<\/p>\n

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

South Africa\u2019s central bank revised its domestic food price inflation forecast for this year to 6.6% from 6.1% on Thursday, when it delivered its biggest interest-rate hike in more than six years.<\/p>\n

Its estimates show price pressures are becoming more acute, with inflation now seen peaking at 6.3% in the second quarter of this year and only returning to 4.5% — the midpoint point of the target range at which it prefers to anchor expectations — in the final quarter of 2024.<\/p>\n

\n

Read: There is still good news for home buyers in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

South Africans seeking respite from high inflation and looming price increases should consider going vegan, drinking less alcohol and avoiding bread, according to Bank of America.<\/p>\n","protected":false},"author":59,"featured_media":588668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5349,26],"class_list":["post-588660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bank-of-america","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/588660","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\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=588660"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/588660\/revisions"}],"predecessor-version":[{"id":588672,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/588660\/revisions\/588672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/588668"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=588660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=588660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=588660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}