Jun 12

Food price increases could be cooling

Food prices in South Africa continue to increase at a startling rate, although the pace of acceleration is easing and possibly faster than is reflected in the official data so far. The cost of a basket of goods in Bloomberg’s South African Shisa Nyama Index, designed to show the cost of a traditional backyard barbecue in townships and rural areas, rose 12% year-on-year in May, a sharp decline from 19% in February.