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Inflation data could lower food prices

By Kea' Modimoeng | Aug 25, 2009 | COMMENTS [ 0 ]

LAST month's inflation data will determine whether consumers will be seeing a marked drop in food prices or not.

Agricultural economist André Jooste of the Agricultural Marketing Council said July's consumer price index figures which Statistics SA releases tomorrow will give a clear comparison of prices between July last year and July this year.

Jooste was speaking after trade union Solidarity has called for a cut in food prices.

Solidarity spokesperson Jaco Kleynhans said the union had asked the Competition Commission to probe supermarket groups' rebate systems.

Commissioner Shan Ramburuth said the commission's probe into supermarkets was still at an early stage and urged anyone with information to contact the commission.


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