Although SA is food secure from a national perspective, part of food security is also about the ability to pay for food.The worst part of the food price crisis faced by South African consumers could be over, according to John Hudson, national head of agriculture at Nedbank.
"Food inflation is now higher than national inflation, but we think the worst is over in terms of steep increases, and the pace of food inflation will slow down. We expect food inflation might have peaked at about 10% in July and will moderate in the second half to an average of about 7% for the year," says Hudson.
He says SA's food is still secure despite the negative impact of factors like lingering supply chain problems as a hang over of the Covid-19 pandemic and, on top of that, the larger impact of the Ukraine war.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Fin24 If the prices aren't coming down, the crisis isn't over
Fin24 We will let you know if that’s true once checkers, pnp, woolies, etc cut their extortionately high prices! 🥴
Fin24 Doubt it very much.
Fin24 Please🙏
Fin24 So we can see a 50% reduction in prices?
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