In what could be good news for Namibian consumers too, South Africa’s Bureau for Food and Agricultural Policy believes the country is seeing the first signs of a “solid turnaround” in its inflation picture. News24 quotes the research group as saying that apart from the EU, with a food inflation rate of 15% year-on-year, South Africa’s 11.8% recorded in May was higher than any of the countries selected for comparison. These included Zambia (11.6%), Kenya (10.2%), the US (6.7%), Brazil (5.5%) and China (1%). But, South Africa experienced the fastest inflation rate decline of the countries measured from April to May 2023, followed by the US and EU – providing the “first solid indication of a turnaround”.
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