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BDLive reports that economists predicted on Monday that SA’s unusually high food price inflation was expected to drop to single digits for the first time in a year. The downward trend is expected to continue despite another drought being forecast for later in 2017.
The food inflation weighting, at 19%, is the largest contributor to the consumer price inflation (CPI) basket. Inflation data, which is compiled by Statistics SA, will be published on Wednesday. Forecasts by economists vary from 6.3% to 6.4% for CPI overall. They expect food inflation to slide below January’s 11.4% in February. NKC Economics senior economist Elize Kruger forecast 9.3% for February. Agbiz economist Wandile Sihlobo said that, over the year, food inflation will come down to levels of 6% to 9%. But, consumers may only benefit from lower prices from the third quarter of 2017 due to the lag in price pass-over.
- Read this report by Asha Speckman in full at BusinessLive
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