Retailers not cutting food prices fast enough, says Competition Commission.
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GUEST – Khali Ranenyeni, Principal Economist at Competition Commission
Competition Commission economists have warned that food prices are still too high for minimum wage households to afford, even in the face of cooling price pressures and lower fuel prices.
The latest edition of the Essential Food Price Monitoring Report by the commission found that the prices of various basic foodstuffs were not declining in line with prevailing market conditions.
As a result, many South Africans could not afford the basket of basic foods, stoking fears about food insecurity.
Competition Commission economists have warned that food prices are still too high for minimum wage households to afford, even in the face of cooling price pressures and lower fuel prices.
The latest edition of the Essential Food Price Monitoring Report by the commission found that the prices of various basic foodstuffs were not declining in line with prevailing market conditions.
As a result, many South Africans could not afford the basket of basic foods, stoking fears about food insecurity.
