{"id":779084,"date":"2024-06-26T14:23:04","date_gmt":"2024-06-26T12:23:04","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=779084"},"modified":"2024-06-26T14:27:46","modified_gmt":"2024-06-26T12:27:46","slug":"good-news-for-braai-lovers-in-south-africa-6","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/779084\/good-news-for-braai-lovers-in-south-africa-6\/","title":{"rendered":"Good news for braai lovers in South Africa"},"content":{"rendered":"\n

The latest household affordability index from the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) shows that food prices in the country have taken a significant turn for the better, and year-on-year inflation has eased.<\/p>\n\n\n\n

The group’s index, based on a basket of 44 essential foods most commonly bought by the majority of households in South Africa, showed a 1.5% decline in prices month-on-month, with year-on-year prices up only 3.9%\u2014well below headline inflation.<\/p>\n\n\n\n

In June 2024, the average cost of the Household Food Basket was recorded at R5,252.77. The average cost decreased by R77.53 (-1.5%) from R5,330.30 in May 2024.<\/p>\n\n\n\n

Year-on-year, the average cost was up by R196.32 (3.9%) from R5,056.45 in June 2023.<\/p>\n\n\n\n

Of the 44 food items carried in the basket, 30 saw prices decline in June 2024, while 14 saw prices climb between May and June 2024.<\/p>\n\n\n\n

Between June 2023 and June 2024, the inverse was true: 13 food prices came down, one stayed the same, and 30 others saw prices climb.<\/p>\n\n\n\n

Braai time<\/strong><\/p>\n\n\n\n

Extrapolating the latest prices onto the Bloomberg Braai Index, the numbers show that it has become cheaper to engage in South Africa’s favourite pastime.<\/p>\n\n\n\n

The index comprises food items that are most commonly used when having a braai, including the meat (Beef, worse, chicken portions), vegetables (spinach, carrots, tomatoes, potatoes, onions, green pepper) and others (samp, maize, curry powder, salt).<\/p>\n\n\n\n

In both the month-on-month index and the year-on-year index, prices for a braai have come down, with the overall index showing declines of 1.7% and 2.5%, respectively.<\/p>\n\n\n\n

Year on Year Overall index [-2.5%]<\/mark><\/strong><\/p>\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n

Month on Month Overall index [-1.7%]<\/mark><\/strong><\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

Food prices<\/strong><\/p>\n\n\n\n

Price pressure is still being felt in key food categories like rice, sugar and sugar beans, where prices are still in the double-digits.<\/p>\n\n\n\n

This is owing to crop pressures globally.<\/p>\n\n\n\n

Egg prices are also still high, as the market is still settling from pressures seen at the end of last year.<\/p>\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n

Regionally, prices are also down in most areas month-on-month. Though year-on-year pricing shows that prices are still out of whack in some metros, like Joburg.<\/p>\n\n\n\n