Competition Commission flags some food prices

The Competition Commission has found that food prices haven't returned to normal following an increase during the hard lockdown. The commission's chief economist James Hodge says they will be closely monitoring prices over the next few months. Courtesy #DStv403

JOHANNESBURG - The Competition Commission has found that food prices haven't returned to normal following an increase during the hard lockdown.

It's essential food pricing monitoring report suggests retailers are reluctant to pass on savings to the consumer.

The commission says the previous food price spike was driven by panic buying.

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It's concerned that some prices -- for meat and dairy, in particular -- haven't dropped.

The commission's chief economist James Hodge says they will be closely monitoring prices over the next few months.

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"I think our concern is that wholesale prices have not gone up, but retail prices have," he said.

"It suggests that retailers may have taken a little more margin over this period and that is cause for concern.

"We are trying to determine whether there is something more widespread that warrants closer investigation."

Source
eNCA

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