AGRICULTURAL NEWS - South Africa’s annual consumer price inflation (CPI) softened further in July to 4,6%, down from 4,9% in June and 5,2% in May.
However, the monthly increase in CPI in July was 1,1%, the highest monthly rise since July 2020, when the CPI increased 1,3%, according to Statistics South Africa (Stats SA).
Meat, oils and fats continued to exert upward pressure, said Stats SA, with meat prices rising by 9,4% over the past 12 months.
The continued increase in food, and especially meat prices, were contrary to predictions that these prices would begin to fall month-on-month due to growing consumer resistance.
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