BUSINESS NEWS - The Agricultural Business Chamber says although it welcomes the lower food inflation rate, the meat items in the basket remains worrying.
The data was part of Stats SA's release on Wednesday, which showed the overall inflation rate has pulled back even further in July to 4,6%.
But Agricultural Economist Wandile Sihlobo says the high meat inflation rate of 14,4% was unexpected.
“This could be because of the avian influenza within the poultry space. We do see that farmers are slaughtering more and more. There is some normalisation there.”
Meanwhile, economist Kamilla Kaplan says the drop in the fuel price in July is among the biggest contributing factors to the slowing rate in July.
She adds this could translate to relief for indebted consumers in the future.
High meat inflation remains worrying
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Agricultural Economist Wandile Sihlobo says the high meat inflation rate of 14,4% was unexpected.
Posted on: 11:27 Thu, 24 August 2017
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