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Figure 40 below shows commodity trends for oil and coal over the last five quarters,
2015Q1 – 2016Q1.
Figure 40 Commodity Prices, Energy, 2015Q1 – 2016Q1
Source: World Bank
Figure 41 below traces the trend of maize and wheat between 2015Q1 and 2016Q1.
Figure 41 Commodity Prices, Grains, 2015Q1 – 2016Q1
Source: World Bank
The decline in global wheat and maize prices in the first quarter of 2016 coupled with
the strengthening Rand should, if sustained, reduce pressure on food inflation. Global
and South African maize prices have moved in opposite directions mainly because of
the South African drought. Lower global prices may assist in tempering national food
inflation.
80 QUARTERLY ECONOMIC BULLETIN 2016
