Skip to content

Eat Fruit, Call Mom to Ease Price Pain, Bank of America Tells South Africa

A liquor store in Cape Town, South Africa, 

A liquor store in Cape Town, South Africa, 

Photographer: Dwayne Senior/Bloomberg

South Africans seeking respite from high inflation and looming price increases should consider going vegan, drinking less alcohol and avoiding bread, according to Bank of America. 

While the inflation rate held steady near the ceiling of the central bank’s target range of 3% to 6% in April, the “pain points” for annual and monthly price increases were in the costs of meat products, fats and oils and alcoholic beverages, Tatonga Rusike, BofA’s sub-Saharan Africa economist, said in a note. Increases in the prices of bread and cereals are still to come, he said.