Inflation B-b-b-b-baby, you ain’t seen nothin’ yet.
If one Professor Louw over at Agribusiness is to be believed, food inflation could be heading northward to the tune of 15% by the end of the year, in line with global trends, which have seen it hovering in the mid-to-late 30s in recent months while we’re still in the low single figures, climbing for 3.7% (Feb) to 4.2% (March). The good professor believes that the triple whammy of fuel, electricity and toll fees will soon find its way into our larders. In the meantime, we’re being screened from some of its worst depredations by pleasing harvests in some notable agricultural commodities, although it should be remembered that we remain a net importer of wheat, and that things on the prairies of the world are far from certain these days, climatologically speaking.
Comment: Get used to switching starches is our advice, and if you’re a government, have a plan for the poor, who, as you may have noticed, are already angry.