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Good news: food inflation could remain relatively low

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(iStock)
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Cape Town - The annual food producer price inflation decelerated to 4.7% year-on-year (y/y) in June 2017, from 5.7% y/y in May 2017.

According to Wandile Sihlobo, economist at the Agricultural Business Chamber (Agbiz), this shows the benefits of the higher agricultural output this year following good summer rainfall across the country.

"The large agricultural output will keep agricultural commodity prices under pressure over the short to medium term. This essentially means that food inflation also could remain at relatively lower levels," he said in the latest Agbiz newsletter.

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