date:May 27, 2016
ghtly in the last two months.
He says that during times of domestic supply deficits, imports are supposed to fill the gap. However, this has not been the case for South Africa as agricultural imports became expensive due to the weakening Rand.
The short to medium term outlook for food inflation remains biased to the upside due to supply constraints and a weaker Rand which makes imports more expensive. Risks to the Rand outlook include the aggressive Fed rate hikes, downgrade by credit