By Rachel Mohamed
The Pietermaritzburg Economic Justice and Dignity Group predicts food prices will drop after the Reserve Bank cuts 25 basis-point interest rates.
Speaking on VOC Breakfast, the group’s programme coordinator, Mervyn Abrahams said improved power supply and lower fuel costs support this trend. He has however warned that drought in some provinces could impact certain prices.
“Over the last few months, we have noted the cost reduction in food prices. We have seen that the cost of a basic grocery basket which consists of 44 items decreased over the past few months,” he said.
Abrahams said they expect food prices to drop even more in the coming months.
Listen to the full interview below:
VOC News
Photo: Pixabay
