Why Red Meat Still Eats Into Household Budgets
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GUEST – Paul Makube, Senior Agricultural Economist, FNB Commercial
Why does red meat remain the heaviest weight on household food budgets even as broader food inflation shows signs of easing? After peaking at 5.5% in July, food inflation slowed to 5.2% in August, thanks to cheaper cereals, vegetables, and dairy products. Strong harvests and a firmer rand have pushed grain prices down sharply, but meat continues to buck the trend, keeping pressure on South African households.
Why does red meat remain the heaviest weight on household food budgets even as broader food inflation shows signs of easing? After peaking at 5.5% in July, food inflation slowed to 5.2% in August, thanks to cheaper cereals, vegetables, and dairy products. Strong harvests and a firmer rand have pushed grain prices down sharply, but meat continues to buck the trend, keeping pressure on South African households.
