Following a rough start to 2024 as the average cost of a household food basket increased in January 2024, consumers found some relief as the cost of a food basket dropped the next month. File Picture
Data from the February 2024 Household Affordability Index showed that from January 2024 to February 2024, the average cost of a household food basket dropped by R47.56.
The drop in cost from last month to this month was a welcomed relief for consumers, following an increase in the average cost of a household food basket from December 2023 to January 2024.
The average cost of the household food basket for February 2024 is R5, 277.30 which was lower in cost in comparison to January 2024, according to the index.
For January 2024, the average cost of a household food basket was R5,324.86.
Year-on-year, the index showed that the average cost of the household food basket increased by R348.96, from R4,928.34 in February 2023 to R5,277.30 in February 2024.
The household affordability index by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) tracks food price data from 47 supermarkets and 32 butcheries in Johannesburg, Durban, Cape Town, Pietermaritzburg, Mtubatuba, and Springbok in the Northern Cape.
February price data shows a small drop in the total cost of the average household food basket. This is relatively consistent with historical data, where February prices are lower than January’s, and March prices come in higher than February’s.
According to the index, from October 2023 there has been a slight downward trend in food prices, despite the increase in food costs in January 2024.
The PMBEJD said that food price fluctuations are unpredictable and they are unsure whether the downward trajectory from October 2023 will continue into the new year, or if prices are set to rise in the coming months which has been consistent with previous years.
While food inflation may still remain high, it will be more subdued this year compared to the past two years.
Data from the index showed that there were foods that increased by 5% or more and 2% or more.
For February 2024, foods that increased in cost by 2% or more include:
– sugar beans (4%)
– beef liver (2%),
– wors (2%)
– carrots (2%)
– spinach (11%)
– cremora (2%),
Foods in the basket which decreased in price in February 2024, by 5% or more, include:
– potatoes (-5%)
– stock cubes (-7%)
– soup (-5%)
– eggs (-8%)
– chicken feet (-6%)
– chicken livers (-7%)
– beef (-5%)
– tomatoes (-9%)
– butternut (-12%)
– green pepper (-20%)
– bananas (-14%)
– apples (-9%).
Foods in the basket which decreased in price in February 2024, by 2% or more, include:
– maize meal (-2%)
– rice (-2%)
– cooking oil (-2%)
– salt (-3%)
– frozen chicken portions (-2%)
– curry powder (-2%)
– tea (-2%)
– inyama yangaphakathi (-3%)
– fish (-3%)
– cabbage (-3%)
– polony (-3%)
– brown bread (-2%)
Inflation on food baskets per area
For February 2024, the average cost of household food baskets decreased on both a month-on-month basis and increased on a year-on-year basis.
The cost of a Johannesburg basket decreased by R4.24 month-on-month and increased by R434.12 year-on-year. The cost of a Johannesburg basket for February 2024 is R5,357.53 .
The cost of a Durban basket decreased by R99.43 month-on-month and increased by R294.35 year-on-year. The cost of a Durban basket for February 2024 is R5,262.95.
The cost of a Cape Town basket decreased by R106.17 month-on-month and increased by R168.60. The cost of a Cape Town basket for February 2024 is R5,111.05.
The cost of a Springbok basket decreased by R46.66 month-on-month and increased by R518.28 year-on-year. The cost of a Springbok basket for February 2024 is R5,573.89 .
The cost of a Pietermaritzburg basket decreased by R114.73 month-on-month and increased by R372.28 year-on-year. The cost of a Pietermaritzburg basket for February 2024 is R5,124.04.
In Mtubatuba, the average cost of a food basket decreased by R79.27 month-on-month and increased by R253.04 year-on-year. The cost of a Mtubatuba food basket is R5,388.22 for February 2024.
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