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Food inflation fuelling rising inflation figures

Food inflation is the primary driver of higher inflation figures for April. Statistics South Africa recently announced that inflation was 4.4% for April, a 1.2% increase from March. Inflation on food and non-alcoholic beverages came in at 5.2% according to Statistics South Africa’s Consumer Price Index in February 2021 while the National Agricultural Marketing Council’s Food Price Monitor reveals that inflation on their basic urban food basket is 9.8%.

The Plate of the Nation 2021 study – understanding our eating habits

Based on factors affecting consumer behaviour since the start of the Covid- 19 pandemic, the study found that many South Africans are giving up luxuries and buying necessities with cost being the primary consideration. According to the Nielsen report, South African consumers’ current ability to spend is much lower (66%) than global average (48%) as such, people consider healthy food to be accessible, but rather expensive.