Bread and cereal prices up 22% despite slowing inflation
Analysts warn that rising food inflation and rand weakness will remain upside risks
15 February 2023 - 11:04
UPDATED 15 February 2023 - 23:00
Consumer inflation slowed for the third consecutive month in January, reaching its lowest level since May, but analysts warn that rising food inflation and rand weakness — mainly as a result of dollar strength — will remain upside risks to the Reserve Bank’s local inflation outlook.
While the slowdown in headline inflation from December’s 7.2% to January’s 6.9% was anticipated and in line with market expectations, the reading is still well above the Reserve Bank’s 3-6% target range...
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