This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
Engineering News reports that the Bureau for Food and Agricultural Policy (BFAP) has revealed in its latest ‘Food Inflation Brief’ that South African food and non-alcoholic beverage inflation jumped 8.6% last month, in year-on-year (y-o-y) terms.
In month-on-month (m-o-m) terms, food and non-alcoholic inflation in June was up 1.2%. This inflation contributed 1.5 percentage points to the consumer price index headline inflation figure of 7.4% last month. “The full effect of the commodity price shock of the Russian Ukraine invasion on grains and oilseeds is now apparent, with inflation on bread and cereals amounting to 11.2% and oils and fats recorded at a staggering 32.5%,” the BFAP highlighted. The cost of the BFAP’s Thrifty Healthy Food Basket (THFB) jumped 9.3% in y-o-y terms, or by R270. In m-o-m terms, the increase was 0.4%, or R13. The THFB is nutritionally balanced, containing 26 food items from all the food groups, and designed to feed a family of two adults, and an older child and a younger child, for a month. Assuming the family earned two minimum wages and benefitted from child grants and school feeding, the THFB would have consumed 30.4% of their total income last month. For July, high diesel prices were likely to have a major impact on food prices, while load-shedding during this month (by driving up production costs) could also boost food inflation this month and next month, the Bureau warned.
- Read the full original of the report in the above regard at Engineering News
Get other news reports at the SA Labour News home page