Food inflation drops to 14-year low, giving consumers breathing room

JOHANNESBURG - Food inflation has dropped to a 14-year low giving some consumers room to breathe.

While food prices remain high, they are increasing at a slower pace.

Stats SA released the latest inflation print on Wednesday which saw headline inflation increase marginally from 2.8% to 2.9% in November.

While fuel prices applied some pressure annual inflation for food and non-alcoholic beverages dropped sharply again.

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Food inflation dropped to 2.3% - the lowest since December 2010.

“The annual rate for bread & cereals moderated further, cooling to its lowest level in almost three years. Important items such as brown bread, white bread, maize meal, cold cereals, pasta and rice recorded lower rates. Inflation quickened for several products, including samp and hot cereals," said the chief director for price statistics at Stats SA - Patrick Kelly.

After burning a hole in households’ food budgets for much of 2024, egg inflation also eased.

“Egg inflation descended into deflationary territory in November, falling to -3,7%. This is down from a high of 39,9% a year ago.”