During February 2024, the nominal cost of the National Marketing Agricultural Council’s 28 item urban food basket amounted to R1,257.23, which is slightly higher in comparison to the R1,251.50 reported in January 2024.
This is according to National Marketing Agricultural Council (NAMC) which monitors food prices at retail level and does a basic food basket price review.
The increase in costs represents a monthly increase of 0.5% and a year-on-year increase of 9.5%.
Between January 2024 and February 2024, there are 16 foods that increased in cost, including:
– oranges: The price of oranges increased from R31.12 in January 2024 to R36.87 in February 2024, a 18.5% hike.
– baked beans, tinned 410g: The price of baked beans increased from R15.98 in January 2024 to R16.04 in February 2024, a 0.4% hike.
– beans, dried 500g: The price of dried beans increased from R30.89 in January 2024 to R31.20 in February 2024, a 1% hike.
– peanut butter 400g: The price of peanut butter increased from R44.02 in January 2024 to R44.91 in February 2024, a 2% hike.
– Ceylon/black tea 250g: The price of Ceylon/black tea increased from R52.96 in January 2024 to R53.65 in February 2024, a 1.3% hike.
– eggs 1.5 dozen: The price of eggs increased from R68.18 in January 2024 to R68.74 in February 2024, a 0.8% hike.
– full cream milk, long life milk 1 litre: The price of full cream milk increased from R19.45 in January 2024 to R19.51 in February 2024, a 0.3% hike.
– brick margarine: The price of brick margarine increased from R29.09 in January 2024 to R29.62 in February 2024, a 1.8% hike.
– apples per kg: The price of apples increased from R23.94 in January 2024 to R24.03 in February 2024, a 0.4% hike.
– beef offal per kg: The price of beef offal increased from R49.72 in January 2024 to R50.23 in February 2024, a 1% hike.
– chicken portions 2kg: The price of chicken portions increased from R93.45 in January 2024 to R93.77 in February 2024, a 0.3% hike.
– polony: The price of polony increased from R54.44 in January 2024 to R54.63 in February 2024, a 0.3% hike.
– loaf of white bread 700g: The price of white bread increased from R18.53 in January 2024 to R18.58 in February 2024, a 0.3% hike.
– rice 2kg: The price of rice increased from R44.14 in January 2024 to R45.16 in February 2024, a 2.5% hike.
– maize meal 5kg: The price of maize meal increased from R66.90 in January 2024 to R68.50 in February 2024, a 2.4% hike.
– white sugar: The price of white sugar increased from R62.01 in January 2024 to R62.22 in February 2024, a 0.3% hike.
Year-on-year, from February 2023 to February 2024 there were 15 price increases that were more than the inflation target set by the South African Reserve Bank (SARB) of 6%, according to the NAMC.
These 15 foods are: oranges (51.0%), potatoes (32.2%), Ceylon/black tea (29.7%), rice (27.4%), eggs (25.2%), white sugar (24.1%), instant coffee (20.6%), apples (18.4%) and peanut butter (16.9%).
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