Shoprite Continues To See Weakness In SA Consumer

Shoprite believes the South African consumer remains in a tough spot and is recovering more slowly than in most emerging economies. Although the high-end South African consumer looks in much better shape (see 'Woolworths Coming Back Well And Trying To Make Its Food Cheaper' in our online service), the average South African still looks pretty stretched, with unemployment still worryingly high. Low food price inflation has also not been helping the food retail industry, with the strong rand so far largely shielding South Africa from the imported inflation currently hitting much of the world.

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