Skip to main content

High meat prices lift food inflation

| Supplier news

AS South Africans enjoyed Heritage Day with a braai on Friday, stubbornly high meat prices lifted food inflation in August this year. Economists said meat could be singled out as the biggest culprit in the uptick in food inflation, given its weighting in the food basket, after posting a double-digit increase of 10.7 percent year-on-year.


Dineo Faku | IOL

“The combination of supply constraints due to the reduced pace of beef and sheep slaughter and the decreased volumes of poultry imports underpinned the recent up-trend in meat prices”, said senior agricultural economist at FNB Agri-Business Paul Makube.

After showing signs of moderation for the second half of 2021, with the July food price inflation steadying at 7 percent year-on-year, the August print came in on the upside by 0.4 percent month-on-month, and 7.4 percent year-on-year.

August Consumer Price Index inflation lifted to 4.9 percent year-on-year, from a prior 4.6 percent year-on-year, on elevated fuel price inflation drifting further away from the midpoint of the SA Reserve Bank’s target range of 3 percent to 6 percent.

Pin It

Related Articles

By: Nick Wilson – News24 Retail group Woolworths confirmed on Wednesday (15/01/2025) it is experiencing a shortage of avocados, saying this is due to a shift in harvesting times in KwaZulu-Natal, lower volumes in the Eastern Cape and logistical del…
By:  Marelise van der Merwe – News24 Lucky Star has distanced itself from a consignment of counterfeit canned pilchards seized during a raid last week, owner Oceana said in a statement on Tuesday (19/11/2024).
By Marelise van der Merwe – Fin24 Retailer Woolworths has launched its own probe into a counterfeit operation involving canned pilchards, it said in a statement.
By: Gerry Cupido – IOL Lifestyle Remember the viral Dubai chocolate that everyone was raving about earlier this year? The one that people were spending up to R1,000 on?
Eskort, South Africa’s beloved pork brand, is turning 107 this year! As the leading antibiotic-free pork producer in the country, we’re marking this incredible milestone with a series of celebratory stunts that truly embody our legacy of quality, tr…