December food inflation climbed month-on-month (0.2%) and annually (1.7%) compared to December 2023. Notably, meat prices were the exception, moderating annually due to improved supply following recovery from disease outbreaks. Supply constraints, along with elevated fuel prices and electricity costs, were also key factors behind the yearly increases in other food items.
Despite these trends, food inflation in 2024 was broadly softer, averaging 4.1% compared to 11.0% in 2023. “Looking ahead, the food inflation outlook remains uncertain, with risks stemming from mixed weather conditions in key producing areas, global factors such as oil prices, and currency fluctuations – all of which will play a role,” said Kulani Siweya, AgriSA Chief Economist.
How do you see these inflation trends shaping food security and affordability in 2025?
