Robert Laing
Robert Laing
Consumers are not seeing the lower food prices that farmers received two months ago.
May's consumer inflation was led higher by bread, pastas and other grain products prices jumping nearly seven percent month-on-month. This was despite last month's producer price index (PPI) data showing farmers saw grain prices in April fall five percent from March.
Vegetable prices increased nearly two percent from April to May despite a 17percent drop in produce prices reported at farm gates two months ago.
About the only good news in yesterday's consumer price index (CPI) data was fruit and nut prices dropped four percent, meaning part of the 17 percent lower prices farmers received in April was reflected in supermarkets in May.
Vehicle running costs showed the next biggest monthly price jump of nearly five percent. Stats SA bundles petrol prices which rose 55 cents a litre in May into its vehicle running cost figure.
Lower food prices have yet to hit the shelves
Robert Laing
Robert Laing
Consumers are not seeing the lower food prices that farmers received two months ago.
May's consumer inflation was led higher by bread, pastas and other grain products prices jumping nearly seven percent month-on-month. This was despite last month's producer price index (PPI) data showing farmers saw grain prices in April fall five percent from March.
Vegetable prices increased nearly two percent from April to May despite a 17percent drop in produce prices reported at farm gates two months ago.
About the only good news in yesterday's consumer price index (CPI) data was fruit and nut prices dropped four percent, meaning part of the 17 percent lower prices farmers received in April was reflected in supermarkets in May.
Vehicle running costs showed the next biggest monthly price jump of nearly five percent. Stats SA bundles petrol prices which rose 55 cents a litre in May into its vehicle running cost figure.
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending
Latest Videos