FNB says this is due to a combination of factors including tight supplies, reduced import of chicken amid higher prices, and resilient consumer demand despite consumers’ financial constraints.
A senior agricultural economist at FNB, Paul Makube says, “Food, however, remained sticky on the upside. After steadying in October, the food CPI rebounded by 0.5% in November to 12.8% year-on-year and is still the highest level since April 2009 but still shows some deceleration of 0.5%. On the local market, meat CPI steadied but still reached the highest level in 14 months at 10.5% year-on-year.
But FNB expects some reprieve for consumers early in the New Year as lower seasonal demand after the festive and costs of electricity and transport still high will likely place downward pressure on meat prices.
Obviously import rates while we've our owe cows in South Africa
And I guess Russia is to blame? 🤦🏼♀️
Vegans doing cartwheels. 🤷🏽♂️
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