High cost of food unjustified: Competition Commission

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The Competition Commission says South African consumers have been subjected to unjustified food price increases.

These increases were found in sunflower oil, white and brown bread, and opportunistic price increases in maize meal over a two-year period.

The commission also stated that key trade policy decisions also affected the price of poultry products in 2022.

These findings are contained in their latest Essential Food Pricing Monitoring (EFPM) report which covers 2021 and 2022.

The commission’s spokesperson, Sipho Ngwema says they will continue to monitor food prices.

“The food sector remains a priority for the commission as poor consumers spend a significant portion of their income on essential food items. As food inflation remains elevated and load shedding continues to affect business operations, food prices monitoring will remain a priority for the commission given its importance to the welfare of South Africans in general,” says Ngwema.