AGRIBUSINESS PERSPECTIVE
One example of such data was the inflation figures, which showed that South Africa’s headline consumer inflation fell to 4,7% in July 2023, the lowest since July 2021, from 5,4% in June. Notably, this was better than the market’s forecast of 4,9%.
The sharp fuel price deflation and easing food price pressures were some of the main drivers of this deceleration in headline inflation.
I particularly noticed the food category of the inflation basket, which had remained elevated over the past few months, a trend that we saw globally.
But the recent data paint a promising picture.
For example, South Africa’s consumer food inflation slowed in July 2023, recorded at 10,0% from 11,1% in the previous month.
The product prices underpinning this deceleration are primarily bread and cereals; meat; fish; and oils and fats.
SOME NEW RISKS
While there are renewed risks in global agriculture, such as India’s decision to ban specific categories of rice exports, and the termination of the Black Sea Grain Initiative, which facilitated grains and oilseeds exports from Ukraine, we are still optimistic that South Africa’s consumer food inflation will continue to slow during this second half of the year.
この記事は Farmer's Weekly の September 22, 2023 版に掲載されています。
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この記事は Farmer's Weekly の September 22, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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