Food inflation is stabilising (according to survey of 44 items from 79 retailers)

Lester Kiewit spoke to the Programme Coordinator at the Pietermaritzburg Economic Justice and Dignity Group, Mervyn Abrahams. 

Listen to their conversation in the audio clip below.

If you have been keeping a keen eye on food prices, you may have noticed that prices are not increasing as fast as it has of late, especially in the last two months.

"Food price inflation is coming down; it is stabilising, and going in the right direction."

 - Mervyn Abrahams, Pietermaritzburg Economic Justice and Dignity Group

According to the Pietermaritzburg Economic Justice and Dignity Group's June 2024 Household Affordability Index, the average cost of the Household Food Basket is R5252,77.

The Index tracks the prices of 44 basic foods from 47 supermarkets and 32 butcheries throughout South Africa.

"In June, the price of our basket has come down by about R77,53, which now takes the cost of that basket of very basic food to R5252,77."

- Mervyn Abrahams, Pietermaritzburg Economic Justice and Dignity Group

"It's significant to note that this is the second month that we have seen a decline."

 - Mervyn Abrahams, Pietermaritzburg Economic Justice and Dignity Group

Out of the basket of 44 basic foods tracked, 14 foods increased in price and 30 decreased.

"The decrease is mainly driven by declines in the price of fresh vegetables like tomatoes, carrots, spinach, potatoes and cabbage. Those prices have come down significantly."

 - Mervyn Abrahams, Pietermaritzburg Economic Justice and Dignity Group

"We have also seen that petrol prices have by and large come down over the last three months and already we are factoring in the solar panels that farmers have bought in the past in order to offset loadshedding. Those are now established and therefore shouldn't lead to any further kind of increases. We haven't seen much loadshedding over the last couple of months, having a positive effect on retail prices of particularly fresh vegetables and products like flour and bread."

 - Mervyn Abrahams, Pietermaritzburg Economic Justice and Dignity Group

Scroll up to listen to the full interview.