"The Commission remains concerned about food inflation and more specifically whether the prices are justified by increasing costs," it said on Tuesday. The Commission found in its latest Essential Food Pricing Monitoring (EFPM) report covering 2021 to 2022 that consumers were subjected to "unjustified" price increases of sunflower oil, white and brown bread, and "opportunistic" price increases in maize meal over a two-year period.
For example, from January 2022 to December 2022, the retail price of white bread rose to 18.62 rand ($1.03) from 15.47 rand, an increase of 20%. Over the same period, the wholesale price went from 11.31 rand to 12.97 rand, a 15% increase, it said. The findings of the report have also looked at price movements in the poultry value chain and five fruits and vegetables.
"The food sector remains a priority for the Commission as
poor consumers spend a significant portion of their income on
essential food items," it said.
"Therefore, the Commission is investigating the price of a
range of essential food products at the retail and wholesale
levels."
The country's annual food prices rose 13.6%, the highest
since April 2009, according to Statistics South Africa.
($1 = 18.1658 rand)
(Reporting by Nqobile Dludla, editing by Ed Osmond)
