Higher inflation could be sticking around for longer, economists warn.
food and NAB inflation is expected to remainannounced fuel increases of R1.27/l ininternational oil prices remaining broadly unchanged inHowever, as of 23 March, the latest data from the CEF shows that the under-recovery in petrol prices seen at the middle of the month is now flat – while diesel is still on track for a sizeable cut of around 56 c/l.inflation. Retailers are incurring exorbitant diesel costs to operate generators during load shedding, said Momentum.
are also spending millions per month on diesel, including Pick n Pay, which saw costs rise to R60 million.cost of diesel to consumers through higher food prices ifThis comes after the 2023 National BudgetAs a result, food prices remain elevated, andand the supply of medication are threatened, noted Packirisamy.
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