South African food prices have increased at the slowest pace in at least nine months, according to Bloomberg’s July Shisa Nyama Index, which measures the cost of a basket of goods for a traditional South African backyard barbecue in townships and rural areas.
The price of the contents of the basket rose 10% from a year earlier.
South African annual food inflation cooled to 11.1% in June from 12% a month earlier, while overall price growth eased to 5.4% from 6.3%, data from the government statistics agency show. That led the central bank to pause its longest phase of monetary policy tightening since 2006 on July 20, when it left its benchmark borrowing rate at 8.25%.
