The drought that's battering Southern Africa right now is going to wreak havoc on your pockets in the near future. South African corn farmers are expected to produce the lowest maize produce in 8 years.
The last time production numbers were this low was in 2008.
The numbers are concerning and it seems that South Africa will have to drastically increase the amount of maize it imports to 3.8... ››› more
The rand has continued weaker this year. While this in itself has inflationary consequences, it could get worse for consumers.
This as the drought affecting much of the country means food prices are set to rise and importing food will be more expensive because of the weak currency.
Let's take a closer look…
Food imports mean rising food prices
Grain SA has warned that food... ››› more
Earlier today, Stats SA released its producer inflation figures for September.
The data showed a slight rise in the key economic indicator compared to the same period last year.
Yet lower fuel prices helped to offset a larger rise.
Let's take a closer look at what the data revealed…
Producer inflation rose to 3.6%
Producer inflation, as measured by the producer price index (PPI... ››› more
Earlier today, Stats SA released its consumer price index (CPI) for last month. Consumer inflation came in slightly less than June. And below economists' forecasts.
But CPI for July is still above the Reserve Bank's target band for inflation.
Let's take a closer look at what the data showed.
Consumer inflation eased 0.3% year-on-year
Headline consumer inflation eased “to 6.3% year... ››› more
“Food prices up 49% in five years!” That's the shocking headline South Africans awoke to this morning. Why shocking? Because while many of us have complained about ever rising food prices over the past few years - knowing the actual number just makes our fears more real. Now, analyst warn that food inflation figures are about to increase even more sharply. And the weak rand is to blame.
"On... ››› more
Consumers are reeling from the announcement that petrol will go up 81c per litre this week. Now, there's further cause for alarm. The petrol price hikes are expected to add further strain to your wallet by resulting in food inflation. But there's a smart way you can profit from food inflation…
The higher fuel levies, taken with the announcement of Eskom's electricity price increase, as we... ››› more
Food inflation is likely to rise again as talk of adding a fee to chicken paste imports, which are used to create many cheaper foods, is being bandied around. While this will add further strain to your pocket when you buy groceries, you can make a smart investment move today to ensure a profit from the coming rise in food inflation… The Democratic Alliance says a potential hike on chicken paste ... ››› more
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