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A few months ago we did on article in which we discussed the impact that swine flu in China and broader Asia had on local bacon prices. Now a few months later, we take a look at bacon prices again and find that the growth in the average price paid per packet of 200 gram bacon is a lot higher than it was 12 months ago. And this was recorded across all provinces of South Africa.
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Bacon prices increasing a lot faster than South Africa's official inflation rate
The bar chart below shows the average price paid per 200 gram packet of bacon per province in June 2018 as well as the average price paid per 200 gram packet of bacon as at June 2019. Note all average price data was obtained from Statistics South Africa's consumer price index (CPI) division.
Interestingly from the graphic above is the fact that the Northern Cape had the highest average price per 200 gram pack of bacon in June 2018 as well as in June 2019. So why is bacon so much more expensive in the Northern Cape than any of the other provinces? The province that saw the highest increase in the average price of 200 grams of bacon over the last 12 months was Gauteng with a 17.2% increase and KwaZulu-Natal had the lowest increase at 5.1% over the last year, which is still higher than the official inflation rate for June 2019 which came in at 4.5% (see our inflation heat map for more)
The summary below shows the inflation rate of the average price per 200 gram pack of bacon per province for June 2019, sorted from highest to lowest.
The line chart below shows the inflation rate of the average price per 200 gram packet of bacon per province since the start of 2019. And it shows that some very sharp increases were experienced on a year to year basis over the last couple of months.
The summary below shows the inflation rate of the average price per 200 gram pack of bacon per province for June 2019, sorted from highest to lowest.
- Gauteng: 17.2%
- Western Cape: 16.7%
- Eastern Cape: 14.2%
- Limpopo: 13.6%
- Mpumalanga: 11.5%
- North West: 11.4%
- Free State: 10.1%
- Northern Cape: 5.6%
- KwaZulu-Natal: 5.1%
The line chart below shows the inflation rate of the average price per 200 gram packet of bacon per province since the start of 2019. And it shows that some very sharp increases were experienced on a year to year basis over the last couple of months.
Limpopo showed the most severe price increases for the bulk of the months so far in 2019, with it reaching year on year price increases per 200 gram pack of bacon of around 30%, while the most moderate price increases over the time period were seen in the Northern Cape, perhaps not surprising that the Northern Cape saw the most moderate price increases per packet of 200 gram bacon, since they already have the most expensive bacon in the country.