https://en.sputniknews.africa/20230612/south-african-food-inflation-starts-showing-some-relief-shisa-nyama-index-report-1059868236.html
South African Food Inflation Shows Some Relief, According to Shisa Nyama Index: Report
South African Food Inflation Shows Some Relief, According to Shisa Nyama Index: Report
Sputnik Africa
Food is essential to life, but its cost has risen significantly in various parts of the world, causing financial hardship for many people. South Africa is one... 12.06.2023, Sputnik Africa
2023-06-12T16:36+0200
2023-06-12T16:36+0200
2023-08-03T10:44+0200
sub-saharan africa
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economy
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The rate of acceleration of South Africa's up-swinging cost of living in seems to be slowing down; a phenomenon which might not be reflected in official government data, according to a recent report in the Western media.In May, the cost of a basket of goods tracked by the Shisa Nyama ("Grilled Meat") Index, a gauge used to assess the cost of a traditional backyard barbecue in the Southern African nation's townships and rural areas, increased by 12% year-on-year (YoY), a substantial decline from 19% in February.This is the third consecutive monthly easing since February, in spite of the acute inflation observed across other industries. The data offers some relief to consumers who are grappling with various challenges, such as high fuel costs, high levels of unemployment, daily electricity blackouts, and an economic slowdown.Consumer prices went up by 6.8% YoY in April, a slight drop from the 7.1% in March, with food prices rising by 14.3%, according to the national statistics agency of South Africa (Stats SA).While official data for May is scheduled to be released later in June, the Shisa Nyama Index aims to provide a more updated and comprehensive perspective on the real cost of food staples, including cornmeal, tomatoes, carrots, onions, salt, beef, curry powder, frozen chicken portions, and wors – a type of sausage made from various ground meat offcuts.According to the Pietermaritzburg Economic Justice and Dignity organization (PMBEJD), which compiles the index by checking food prices on the shelves of 44 supermarkets and 30 butcheries catering to the low-cost market in different parts of the country, the cost of certain items in the index, such as green peppers, cooking oil and samp, a dish similar to grits, fell in May compared to April.However, despite this slight slowdown in food inflation, it is uncertain whether this downward trend will continue given the ongoing energy crisis, which has affected food production costs.
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southern africa, south africa, world food crisis, food security , inflation, economy
southern africa, south africa, world food crisis, food security , inflation, economy
South African Food Inflation Shows Some Relief, According to Shisa Nyama Index: Report
16:36 12.06.2023 (Updated: 10:44 03.08.2023) Muhammad Nooh Osman
Writer/Editor
Food is essential to life, but its cost has risen significantly in various parts of the world, causing financial hardship for many people. South Africa is one such country experiencing the effects of rising food prices. The World Bank estimates that a nutritious diet in the country costs approximately $4 per person per day.
The rate of acceleration of South Africa's up-swinging cost of living in seems to be slowing down; a phenomenon which might not be reflected in official government data, according to a recent report in the Western media.
In May, the cost of a basket of goods tracked by the Shisa Nyama ("Grilled Meat") Index, a gauge used to assess the cost of a traditional backyard barbecue in the Southern African nation's townships and rural areas, increased by 12% year-on-year (YoY), a substantial decline from 19% in February.
This is the third consecutive monthly easing since February, in spite of the acute inflation observed across other industries. The data offers some relief to consumers who are grappling with various challenges, such as high fuel costs, high levels of unemployment, daily
electricity blackouts, and an economic slowdown.
Consumer prices went up by 6.8% YoY in April, a slight drop from the 7.1% in March, with food prices rising by 14.3%, according to the national statistics agency of South Africa (Stats SA).
While official data for May is scheduled to be released later in June, the Shisa Nyama Index aims to provide a more updated and comprehensive perspective on the real cost of food staples, including cornmeal, tomatoes, carrots, onions, salt, beef, curry powder, frozen chicken portions, and wors – a type of sausage made from various
ground meat offcuts.
According to the Pietermaritzburg Economic Justice and Dignity organization (PMBEJD), which compiles the index by checking food prices on the shelves of 44 supermarkets and 30 butcheries catering to the low-cost market in different parts of the country, the cost of certain items in the index, such as green peppers, cooking oil and samp, a dish similar to grits, fell in May compared to April.
However, despite this slight slowdown in food inflation, it is uncertain whether this downward trend will continue given the ongoing energy crisis, which has affected food production costs.
