As South Africans prepare for the festive season, there is some good news on the horizon: prices of some basic food items have fallen slightly compared to last year. According to data from Pietermaritzburg Economic Justice & Dignity Group, prices of some items have increased slightly while others have fallen. The bottom line is that the average price of a food basket this year is R1600.45, down slightly from R1654.07 last year.
A price drop that could ease the burden on consumers’ wallets this festive season. For example, a 10kg bag of rice currently costs R171.08 compared to R167.54 in November last year, an increase of 2%. Similarly, a 30kg bag of maize flour has increased from R300.09 last year to R328.17 this year.
While the price of a 10kg piece of frozen chicken increased from R400.60 to R403.00, an increase of 1%, the price of a 2kg piece of beef decreased from R181.64 to R179.65. Similarly, a significant decrease was observed in the price of 60 eggs, which fell from R191.83 to R166.69, thanks in part to a drop in prices linked to avian flu.
A traditional South African Christmas meal often includes vegetables of the “seven colours”. According to the food survey, the price of a 10kg bag of potatoes is R112.17, compared to R130.02 last year. Similarly, a 10kg bag of butternut squash fell from R148.87 to R95.04, a decrease of 36%.
However, the price of eight bunches of spinach has increased from R96.28 to R104.19 this year, while two heads of cabbage now cost R40.56 compared to R38.37 last year.
The final cost of the items in the Seven Colours Food Basket is R351.96 compared to R413.83 last year.
To collect this food price data, the Pietermaritzburg Economic Justice & Dignity group works closely with low-income women in several regions of South Africa. These South African consumers have developed “food coping strategies” to cope with financial pressure during the festive period. This includes opting for more affordable products and cheaper brands. This consumer flexibility could translate into less loyalty to a specific retailer, seeking out special offers and reducing spending on luxury goods.
In conclusion, the drop in prices of essential food items in South Africa is good news for consumers this festive season. The figures show a downward trend, which could allow South African families to enjoy festive Christmas meals while keeping their budgets in check.