South Africa: Food and Fuel Feed Rising Inflation

  |   Attaché Report (GAIN)   |   SF2022-0021

South Africa’s annual consumer price index inflation rate surged to a 13-year high of 7.4 percent in June 2022, driven mainly by a rise in food and fuel prices. Fuel and food prices soared globally due to the Russia/Ukraine conflict that disrupted commodity markets. Food price inflation was exacerbated in South Africa by ongoing load shedding, or prolonged power outages, that have increased costs along the supply chain. As a result, South Africa’s food price inflation accelerated by 9.0 percent, the highest level since February 2017. The consumer prices of grain-related and vegetable oils products are expected to rise in the coming months, which will keep food inflation at relatively higher levels. To help curb the escalating inflation rate, the South African Reserve Bank increased the interest rate by 0.75 percent, rising borrowing costs to its highest level since March 2020.

Related Reports

Attaché Report (GAIN)

Ecuador: Food Processing Ingredients Annual

The food processing industry is an important component of Ecuador’s manufacturing sector. This sector contributes 56 percent to Ecuador’s manufacturing gross domestic product and grossed $14 billion in net sales. Excellent sales prospects exist for U.S. food ingredient products to supply this industry.
Attaché Report (GAIN)

Algeria: Grain and Feed Annual

Post anticipates that Algeria’s wheat and barley production will remain stable in the 2025/26 season. Post forecasts Algeria’s wheat imports at above 9 million metric tons (MMT) in the current and next season.
Attaché Report (GAIN)

Morocco: FAIRS Export Certificate Report Annual

This report provides information on export certificates that the Government of Morocco requires. The Moroccan food safety authority, “Office National de Sécurité Sanitaire des Produits Alimentaires” (ONSSA) is the national authority responsible for ensuring food safety and food regulations in the country.