Cooking oil prices rise over 50% in a year, basic food prices soar

The price of cooking oil in South Africa has risen over 50% in the past year.

This is according to a report by the Pietermaritzburg Economic Justice and Dignity Group’s May 2022 household affordability index.

The index showed that food prices across the country continued to rise. The new food basket which the organisation uses to measure prices consists of 44 basic food items.

Cooking oil prices have surged in recent months because of the ongoing conflict between Russia and Ukraine, which has also led to the price of petrol jumping to around R24 per litre.

 

More on this, check the IOL