Competition Commission: South Africans still paying too much for bread, maize meal & oil
The Competition Commission said consumers in South Africa are still paying too much for bread, maize meal, and cooking oil, despite a drop in global food prices.
Prices remain red-hot with food inflation at nearly twice the inflation rate for all goods and services.
In its latest essential Food Pricing Monitoring report, the commission said a decline in commodity prices this year has not led to lower prices for consumers yet.
Spokesperson for the Competition Commission, Siyabulela Makunga said the high prices of the three essential food items are a result of the rocket and feathers effect.
“Simply put, the rocket and feather effect is whereby markets realize that rapid increases in input costs due to volatility and inflation and when such costs come down, consumers do not necessarily enjoy a significant reduction in retail prices.”
-EWN
In other news – Minnie Dlamini and ex-husband Quinton Jones fight over their child, Netha?
Well-known Mzansi media personality Minnie Dlamini shocked South Africa when she revealed that she was getting a divorce after only three years of marriage. The star split from her American-born husband Quinton Jones in September last year and has since opened up about her divorce a number of times.
And now she has headed online to share rather cryptic posts about babies being forcefully separated from their mothers. A post that many believe could be about a custody battle. Read More
