Competition Commission concerned about high food prices despite easing cost pressures: Kagiso Zwane

The Competition Commission says it remains concerned about the high levels of food prices and will continue to monitor them so that consumers are not harmed by unjustifiable increases. In its latest edition of the Essential Food Pricing Monitoring Report, the commission notes several positive signs of easing food cost pressures throughout the economy. This includes the relaxation of loadshedding, the strengthening of the Rand against the US dollar, and decreasing fuel prices. However, it has observed that prices remain high and are increasing at a rate that is unaffordable for low-income households. The report finds that easing cost pressures have been slow to translate into lower food prices in several essential food value chains. For more we are joined Kagiso Zwane, Economist at the Competition Commission's Economic Research Bureau. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.