Food prices are climbing again, according to latest Shisa Nyama Index | Business

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Food prices in South Africa are on a tear yet again, underscoring central bank Governor Lesetja Kganyago’s resolve to keep monetary policy tight for longer. | News24_Business

The cost of a basket of goods in Bloomberg’s South African Shisa Nyama Index, designed to show the price of a traditional backyard barbecue in townships and rural areas accelerated to 15% in June from a year earlier. That compares with 12% in May.

"It’s getting worse but then we’re just holding on," said Nyakale, who runs two shisa nyama restaurants including Meat Meet in Soweto, as the smell of grilled meat wafted outside. Nyakale hasn’t raised prices fearing that it will drive clients away and is instead banking on costs to moderate over the next 12 months.

 

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