The Bureau of Economic Research provides insight into future food price trends.
Food prices are expected to remain heightened in 2023. However, beyond the next several months, consumers should start seeing a tapering, with the long-term food price outlook being more favourable, says the Bureau of Economic Research .
Sharp declines in South Africa’s maize and wheat future prices from peaks in 2022, with wheat down 9% year-on-year and maize 6% lower. Annual inflation for bread & cereals was 20.5%, slightly lower than January’s 21.8%. Maize meal, an important staple, continues to see high rates of inflation. Its price index increased by 2.2% between January and February, taking the annual rate to 34.7%.
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