South African year-on-year inflation on food and non-alcoholic beverages decreased by 1.0 percentage points from 6.1% in February 2024, to 5.1% in March 2024. Food inflation at a level lower than CPI headline inflation (5.3% in March 2024) last occurred more than two years ago.
In March 2024, a four-member reference household had to spend R3 781 on the Thrifty Healthy Food Basket, R47 per month more than a month ago. In this issue of the BFAP FOOD INFLATION BRIEF, the March March 2024 South African food inflation figures are unpacked and the associated driving factors and expectations.
