March 2016 food price inflation: affordability crisis drives vegetable prices down
Category : Archived News
The cost of the PACSA food basket increased by 14.5% (R237) year-on-year, from R1 632.85 in March 2015 to R1 869.39 in March 2016. The impact of the drought on the food baskets of low-income households emerged strongly from November 2015: over the last five months food price inflation increased by 13.4% or R221 (see Figure 1).The increases on the food basket have been substantial, with increases of R66 in December 2015, R83 in January 2016 and R82 in February 2016. In comparison, the previous year’s inflation for the same 5-month period from November 2014 to March 2015 was 5.3% or R82. The rand-value for the previous year’s 5-month period combined was the same amount as the inflation seen over just one-month, on the February 2016 basket.