• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

South Africa Food Insecurity Deepened Last Year as Inflation Bit

10 months ago
in Business, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
35
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

South Africa Food Insecurity Deepened Last Year as Inflation Bit

The number of people in South Africa able to meet their minimum nutritional needs slipped last year, as a weak economy and inflationary pressures hit households and deepened food insecurity.

A Food Security Index commissioned by Africa’s largest grocer, Shoprite Holdings Ltd., shows South Africa was only 45.3% food secure in 2023. That was the lowest reading in the series since 2012 and was down from a peak of 64.6% in 2019.

“After 30 years of democracy, it is unfathomable that hunger remains one of the top socio-economic issues facing our country,” Shoprite Chief Sustainability Officer Sanjeev Raghubir said in a report published on Wednesday.

Three decades after the end of White-minority rule in 1994, South Africa remains a deeply unequal nation. While it is Africa’s biggest and most-industrialized economy, unemployment is above 30% and two-thirds of its residents live in poverty — most of them Black.

High food prices hit poor families the hardest, with food inflation averaging 10.7% in 2023. That was due to the impact of a combination of factors, including higher commodity prices after Russia’s invasion of Ukraine and adverse weather affecting harvests.

The stickiness of food prices also contributed to slow progress in curbing overall cost pressures, with headline inflation averaging 6% in 2023. But food inflation has since more than halved to a 4.1% annual rate in August, with headline inflation slowing to 4.4%.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

“Food inflation is really a problem,” said Dieter von Fintel, a professor of economics at the University of Stellenbosch, which conducted the survey. “Salaries are growing slower and households are losing jobs, but food prices are growing much quicker. This is a real problem for households.”

Elevated price pressures prompted the South African Reserve Bank to maintain tight monetary policy to achieve its goal of keeping inflation near the mid-point of its 3% to 6% target range. It raised interest rates to a 15-year high of 8.25% in May 2023 and only began easing policy last month, when it lowered the benchmark gauge by 25 basis points to 8%.

“Even though hunger has reduced over the long run in South Africa, we still have a problem that one in 10 of all households have children that experience hunger,” Von Fintel said. Among the poorest households that ratio is even worse, with one in four having children that go hungry, he said.

The report found that 25% of South African children were growth stunted, a similar number to children in neighboring Zimbabwe, which is significantly poorer. Households also reported the lowest food variety since 2019, with 23% fewer homes consuming a diverse set of food because of economic hardship.

Source: bloomberg
Via: norvanreports
Tags: Food insecurityinflationSouth Africa Food Insecurity Deepened Last Year as Inflation Bit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.