Streaming issues? Report here
magic-bus-on-capetalkpng magic-bus-on-capetalkpng
The Magic Bus on CapeTalk Classics
21:00 - 23:59
volume_up
volume_mute

The Magic Bus on CapeTalk Classics
21:00 - 23:59
Home
arrow_forward
Business

Chicken prices are spiking – also maize, rice, and cooking oil

3 February 2022 2:29 PM
Tags:
Food prices
Food price inflation
Inflation
Refilwe Moloto
Breakfast with Refilwe Moloto
Pietermaritzburg Economic Justice and Dignity Group
Mervyn Abrahams

Refilwe Moloto interviews Mervyn Abrahams of the Pietermaritzburg Economic Justice and Dignity Group.

Food prices, already rising at a rate faster than inflation, is expected to skyrocket over the rest of the year.

Food prices rose by 9% over the past 12 months, according to the latest Household Affordability Index (Pietermaritzburg Economic Justice and Dignity Group).

Oil prices are rising, and Eskom is applying for 20.5% hike in electricity tariff, further raising food price inflation expectations.

© stokkete/123rf.com

The average household food basket cost R4401.02 in January 2022 – a year-on-year rise of R349.82 (8.6%), according to the Index.

Between December 2021 and January 2022, food prices rose by 2.9% - or R125.08 in one month.

The basket is made up of 44 core food items most frequently purchased by lower-income households.

Price increases of some commonly purchased items:

  • Oranges: +40%

  • Tomatoes: +27%

  • Bananas: +11%

  • Carrots: +10%

  • Stock cubes: +10%

Refilwe Moloto interviewed Mervyn Abrahams of the Pietermaritzburg Economic Justice and Dignity Group (scroll up to listen).

Petrol and electricity are two of the major input costs… of agricultural activity… fertilisers are petroleum-based… Last year, petrol prices went up by about 40%. We are expecting in 2022 the same level of increase…

Mervyn Abrahams - Pietermaritzburg Economic Justice and Dignity Group

Between December and January, we saw the price of six kilograms of tomatoes increase by R25… that has to do with the climate…

Mervyn Abrahams - Pietermaritzburg Economic Justice and Dignity Group

Chicken and chicken products have spiked massively. Chicken portions increased by 17%... A constant increase in the price of maize, rice, and cooking oil…

Mervyn Abrahams - Pietermaritzburg Economic Justice and Dignity Group



3 February 2022 2:29 PM
Tags:
Food prices
Food price inflation
Inflation
Refilwe Moloto
Breakfast with Refilwe Moloto
Pietermaritzburg Economic Justice and Dignity Group
Mervyn Abrahams

More from Business