Asha Speckman Economics writer

Stats SA delivered bittersweet news about easing consumer prices this week. It is good to know that steak is nearly 5% cheaper than a year ago and that inflation on stewing beef - a staple for hearty stews in winter - has slowed to 5.4% since April last year. But how much comfort is that for consumers who have, for some time, been juggling financial priorities to keep their heads above water? The latest consumer price index, published on Wednesday, notes sizeable increases only on bacon, biltong and sausages. Overall annual food inflation continued to moderate to 2.3% in April, though the prices of vegetables, fruit, bread and cereals, fish, sweets and fuel continued to accelerate. The unabated disinflation - a decline in the rate of inflation - coupled with weak demand has anchored inflation within the Reserve Bank's target range of 3%-6% over the past two years. As a result, economists continue to call on the Bank's monetary policy committee (MPC) to consider cutting interest rate...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.