{"id":619557,"date":"2022-08-28T16:00:35","date_gmt":"2022-08-28T14:00:35","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=619557"},"modified":"2022-08-26T14:00:53","modified_gmt":"2022-08-26T12:00:53","slug":"the-price-tag-on-these-8-food-items-in-south-africa-vs-a-year-ago","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business-opinion\/619557\/the-price-tag-on-these-8-food-items-in-south-africa-vs-a-year-ago\/","title":{"rendered":"The price tag on these 8 food items in South Africa vs a year ago"},"content":{"rendered":"

Annual consumer inflation reached another 13-year high, increasing to 7.8% in July from 7.4% in June.<\/p>\n

Transport; food and non-alcoholic beverages (NAB); and housing and utilities continue to place upward pressure on the annual rate.<\/p>\n

Bread & cereals, oils & fats, fuel and electricity all made a notable impact on this month\u2019s reading.<\/p>\n

The consumer price index (CPI) jumped by 1.5% between June 2022 and July 2022 \u2013 only the fourth time since 2008 (i.e. since the beginning of the current CPI series) that the monthly increase was 1.5% or higher.<\/p>\n

Consumers are feeling the pinch, particularly for non-durable goods \u2013 those items bought most frequently, such as food, drink, electricity, fuels, and medicine.<\/p>\n

Annual inflation for non-durable goods is in double-digit territory, at 14.4%. This is much higher than the rates recorded for durable goods (4.8%) and services (4.2%).<\/p>\n

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

The annual rate for food and NAB was 9.7% in July, higher than the 8.6% reading in June.<\/p>\n

Bread & cereals inflation continues to quicken, with the annual rate rising to 13,7% from 11,2% in June; the monthly increase was 2,4% in July, with large monthly price increases recorded for maize meal (4.2%), cake flour (6.3%), macaroni (5%) and white bread (2.8%). Rice bucked the trend, with prices decreasing by 3.1%.<\/p>\n

Oils & fats continue to register the highest annual rate of increase among food products, accelerating to 36.2% in July from 32.5% in June.<\/p>\n

There is much public interest in the impact of actual price increases on consumers.<\/p>\n

The graphic below shows the change in average prices, from July 2021 to July 2022, for a selection of commonly purchased food items.<\/p>\n

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

Municipalities increase service charges in July every year. Electricity tariffs increased on average by 7.5%, equivalent to the 7.5% benchmark approved by the National Energy Regulator of South Africa (NERSA).<\/p>\n

This increase is lower than last year\u2019s rise of 13.8% but higher than the 2020 increase of 6.3%.<\/p>\n

Together with the rise in electricity tariffs, consumers also had to deal with further fuel price increases. Transport costs were up by 4.8% between June and July, with fuel rising by 9.4%.<\/p>\n

Fuel is 56.2% more expensive than it was twelve months ago, with the price of a litre of inland 95-octane petrol rising from R17.39 in July 2021 to R26.74 in July 2022.1 The average price for diesel increased from R16.58 to R26.61 per litre over the same period.<\/p>\n

Those relying on public transport didn\u2019t escape the pain. Taxi fares jumped in July too, rising by 9% from June and taking the annual rate to 16.4%.<\/p>\n

\n

Read: Food prices go up, but never come down \u2013 and the Competition Commission wants to know why<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Annual consumer inflation reached another 13-year high, increasing to 7.8% in July from 7.4% in June.<\/p>\n","protected":false},"author":10,"featured_media":121253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[26],"class_list":["post-619557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-opinion","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/619557","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=619557"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/619557\/revisions"}],"predecessor-version":[{"id":619563,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/619557\/revisions\/619563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/121253"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=619557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=619557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=619557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}