There is a silver lining in South Africa’s latest foot and mouth disease outbreak: meat prices have barely changed in the past year, according to the latest figures from Statistics South Africa. In July, annual consumer price inflation braked to 4.0% from 4.4% the previous month, with food inflation coming in at a very muted 3%. Meat prices inched up only 0.2%.
He also notes that South African food producers and retailers are finding it difficult to pass costs on to consumers in the face of a weak economy with muted buying power.
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