According to Bloomberg’s South African Shisa Nyama Index, food costs have increased again after a three-month decline.
Food prices in South Africa are on a tear yet again, underscoring central bank Governor Lesetja Kganyago’s resolve to keep monetary policy tight for longer.
“It’s getting worse, and we’re just holding on,” said Nyakale, who runs two shisa nyama restaurants, including Meat Meet in Soweto. Nyakale hasn’t raised prices, fearing that it will drive clients away and is instead banking on costs to moderate over the next 12 months. The PMBEJD’s data collectors track food prices on the shelves of 47 supermarkets and 32 butcheries that target the low-income market in the greater areas of Johannesburg, Durban, Cape Town, Pietermaritzburg, Springbok in the far northwest and the far northeastern town of Mtubatuba.
Still, the measure has been above the South African Reserve Bank’s target range since May last year, and that will prompt rate setters to keep monetary policy tight for longer, according to Governor Kganyago.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Energy poverty must be fixed before South Africa cuts emissions — MantasheSouth Africans must “never allow ourselves to be encircled by the developed nations who fund lobbyists to pit our country’s developmental needs against their own self-serving protection of the environment,” Mantashe said.
Read more »
Warning over the biggest winter insurance claim in South AfricaBudget Insurance says the winter months increase the number of claims for one crucial househould item by 30%.
Read more »
Warning over 10GB free data scam in South AfricaScammers are trying to get people’s private information by using government’s promise that it plans to give every household 10GB of free data.
Read more »
4-day workweek in South Africa – Discovery, Nedbank and other big companies respondSome of South Africa’s largest companies weigh in on the viability of a 4-day workweek in the country.
Read more »
10bet South Africa – New SportsBook 2023 Release10bet South Africa is a new SportsBook that is set to launch in 2023.
Read more »