Food prices

The Talking Point

In last 3 years, the cost of living crisis has crippled many households as food inflation rose to 4,7% overall. According to the recent Household Affordability Index report, the average household food basket going up to R2,860.84 for September 2024 (Pietermaritzburg Economic Justice and Dignity Group). These pressures have made it difficult for lower income consumers to keep up with new prices and placing more households at serious risk of being food insecure. According to the Competition Commission, several retailers and producers have not lowered their prices despite a better economic outlook.

In this discussion, we want to unpack if consumers will benefit from lower food prices given the easing of inflation, fuel prices, stronger exchange rate and loadshedding in recent months. We also talk about the role retailers/food producers play when it comes to pricing and how different stakeholders can play a role in advocating for consumers.

Guest: Khalirendwe Ranenyeni - Principal Economist at the Competition Commission

Guest: Camerodene-June Buys is a Junior Researcher in International Development and Social Policy at the Social Policy Initiative