Food security still under sharp focus, reveals Competition Commission report
According to the report, despite the recent easing of overall inflation and food inflation, South African households are still grappling with high price levels for basic goods.
Picture: © rido/ 123rf.com
JOHANNESBURG - Food security is again under sharp focus following a worrying report tracking essential food prices and commodity cost drivers in the value chain.
This comes after the Competition Commission released the latest edition of the Essential Food Pricing Monitoring report on Friday.
According to the report, despite the recent easing of overall inflation and food inflation, South African households are still grappling with high price levels for basic goods.
The Competition Commission has been monitoring the price of essential foods since the onset of the COVID pandemic in March 2020.
Since the publication of the last report in May, there have been several positive signs of easing food cost pressures throughout the economy.
This includes the cessation of load shedding, a stronger rand against the dollar and lower fuel prices.
READ: 'Prices are ridiculous!'- Average cost of household food basket is R5330
Despite several positive signs of easing cost pressures, the latest report has delivered a mixed bag on essential food prices.
Economist at the Competition Commission Kagiso Zwane said maize meal and egg prices also remained high.
“At the moment, eggs do seem to be taking too long to be returning to pre-outbreak level.”
The lower producer price of sunflower oil since September 2023 has still not translated into lower retail prices – while chicken prices have recovered and stabilised.
While some food prices have stabilised, the Competition Commission has warned that food security is still under serious threat.