The Competition Commission has recently unveiled a report indicating that South Africans are facing exorbitant prices for specific food items, even as the overall inflation rate declines. EWN reports that this “rocket and feather” phenomenon means that while food prices soar swiftly due to factors such as inflation and market volatility, they decline at a much slower pace once these challenges subside. The discrepancy has put consumers under significant financial strain, with food inflation being almost double that of the general inflation rate for goods and services. Retailers, on the other hand, are experiencing an uptick in profits.

In light of these findings, the Commission has expressed its commitment to keeping a close watch on the prices of essential food items across the entire value chain. This initiative aims to ensure that the competition dynamics within the food industry do not unduly impact consumers, and that they are shielded from unjust price hikes.

Source : https://www.researchandmarkets.com/issues/south-africans-struggle-with-high-food-costs