{"id":683911,"date":"2023-04-29T15:00:39","date_gmt":"2023-04-29T13:00:39","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=683911"},"modified":"2023-04-29T08:47:12","modified_gmt":"2023-04-29T06:47:12","slug":"prices-for-these-foods-in-south-africa-have-shot-up-over-20","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/683911\/prices-for-these-foods-in-south-africa-have-shot-up-over-20\/","title":{"rendered":"Prices for these foods in South Africa have shot up over 20%"},"content":{"rendered":"

The latest Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) shows that food prices in South Africa remain stubbornly high, with warnings that the pressure at the tills will linger for longer.<\/p>\n

For April 2023, the average cost of the Household Food Basket hit over R5,000 for the first time, at R5,023.95.<\/p>\n

Month-on-month, the average cost of the basket increased by R57.75 (1.2%) from R4,966.20 in March 2023.<\/p>\n

However, year-on-year, the average cost of the basket increased by R481.02 (10.6%).<\/p>\n

This increase outstripped headline inflation for February but came in lower than food inflation. Headline inflation was recorded at 7.1% YoY in March, slightly up from 7.0% YoY in February and against market expectations of a move back down 6.9%.<\/p>\n

Inflation for food & non-alcoholic beverages continued to accelerate in March, with prices increasing by 14.0%. This represents the largest annual increase since the 14.7% rise in March 2009 (14 years ago).<\/p>\n

In March, milk, eggs & cheese; sugar, sweets & desserts; fruit and vegetables; and the product category \u2018other food products\u2019 experienced upward inflationary pressure. The milk, eggs & cheese product group witnessed its annual rate reaching 13.6% from the recent low of 3.7% in April 2022.<\/p>\n

The reading in March is the highest annual increase since February 2009\u2019s print of 13.9%.<\/p>\n

Bread & cereals, meat, oils & fats, and fish bucked the trend, recording slower growth. The annual increase for bread & cereals was 20.3% in March, down from 20.5% in February. Meat inflation edged lower to 10.6% from 11.4% in February.<\/p>\n

Prices of oils & fats decreased for a seventh successive month, dragging the annual rate to 16.0% from 16.7%.<\/p>\n

These trends are broadly reflected in the PMBEJD data.<\/p>\n

The PMBEJD basket comprises 44 core food items most frequently purchased by lower-income households, who make up most households in the country.<\/p>\n

In the basket, only six items showed a price drop between April 2022 and April 2023. Only oranges showed a significant (>10%) drop in price. One item \u2013 polony \u2013 remained virtually unchanged in price.<\/p>\n

The other 37 items in the basket all saw a price jump \u2013 22 of which were 10% or more. There were 10 items, however, which saw significant price increases over 20%:<\/p>\n