South African Prices Seen Accelerating on Corn Failure: Chart

Corn, a food staple for much of southern Africa, has become a luxury after the region’s worst drought in 35 years. Grain production fell 21 percent last year across southern and eastern Africa, and South Africa predicts this year’s harvest will be half the level of two years ago, driving costs higher. The country’s inflation rate probably increased to 6.8 percent in February, according to the median estimate of 20 economists surveyed by Bloomberg.

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