Cost of living crisis | Rising food prices

Today we're looking at the cost of living crisis that continues to deepen across the world. In South Africa, the suffering is arguably worse because so many people are already unemployed. Due to load shedding the cost of some foods continues to spike even though food costs are coming down in some parts of the world.

To discuss we're joined by the Chief Economist of the Agricultural Business Chamber, Wandile Sihlobo.

[helifynoe]

It is so sad. Many people now have to live with their newly acquired millions of dollars. Others have even become billionaires and must deal with that as well. Yes over the last couple of years, records have been broken concerning the number of annual newly created millionaires and billionaires. Meanwhile, tons of excuses are on the go concerning the higher prices, each NOT relating to record breaking profits. I find it amazing that the regular price of a food item may cost $1.49 in one popular grocery store, yet costs $3.29 in another nearby popular grocery store. How can this be ?

[violetaelmer]

Price is going up every week here in Australia.

[kgapanemohale]

I enjoyed this segment, the economist was coherent and cogent in presenting his analysis.

[cccmmm]

Cost of living doesn't really matter for rich people. So what if you cut down from a R500 bottle of wine to a R200 bottle of wine?
But it matters at the other end where people are struggling to find enough calories in their diet.