PACSA Monthly food price barometer
Category : Archived News
Economic data shows jobs crisis in a context of low wages creates cycle of deepening poverty, inequality and unemployment.
Talks to determine the level at which the National Minimum Wage (NMW) will be set have stalled in NEDLAC. The offer made by Business of R1 800 is just too low to make any substantial improvement to the lives of workers. The May 2016 Food Price Barometer disaggregates and analyses some of the latest labour market and socio-economic data of Statistics South Africa (STATSSA) to make sense of the socio-economic context in which wage levels are set. Affordability of nutritious food is relative to employment rates, income levels, family sizes and the cost of goods and services.
Key data from June 2016 PACSA Monthly Food Price Barometer
• Month-on-month (m/m) the PACSA food basket decreased by R4.48 (-0.24%) from R1 892.31 in May 2016 to R1 887.83 in June 2016. • Year-on-year (y/y) the PACSA food basket increased by R233.02 (14.08%) from R1 654.81 in June 2015 to R1 887.83 in June 2016. • Foods driving prices upwards in the June food basket include: rice, samp, white sugar, sugar beans, fresh milk, maas and eggs. Vegetable prices saw carrots, cabbage, tomatoes and potatoes drop but onions and spinach prices increased.