Meat prices continue to rise despite inflation easing

StatsSA says rising meat prices continue to put pressure on consumer wallets despite food inflation holding steady for a third consecutive month. 

This is after stable food inflation and lower fuel prices contributed to the lower headline rate for January, which came in at 3.5 percent. 

The figure stood at 3.6 percent in December. 

Chief Director for Price Statistics at Stats SA, Patrick Kelly, said the annual rate for meat accelerated to the highest print for the category since December 2017. 

"The annual rate for meat accelerated further to 13,5% from December’s 12,6%. Three beef products recorded the highest annual rates of all 391 products in the CPI basket. These were beef steak (31,2%), stewing beef (30,3%) and beef mince (28,0%)."

READ: SA's inflation slows to 3,5% in January

The surge in red meat prices can mostly be attributed to the country’s worst foot and mouth disease outbreak. 

"More affordable beef products were not immune to sharper price increases, with the rate for beef offal accelerating to 17,2% from 10,5% in December. Pork also experienced a significant rise, climbing to 19,5% from 11,5%."

While government is dealing with the FMD pandemic, there’s also been a warning that the African swine fever could become a pest to piggeries in KZN, Free State, North West, and parts of Gauteng.

This is expected to keep some meat prices up for longer.