Latest news with #May2025
Zawya
an hour ago
- Business
- Zawya
Meat, vegetable price surge pushes South Africa's food inflation to 4.4% in May
The latest update on South Africa's food inflation revealed a further acceleration, as vegetable and meat prices increased in May 2025. South Africa's annual food inflation jumped again by 1.1 percentage points from the previous month to 4.4% year-on-year in May 2025. However, monthly food inflation slowed to 1.2% month-on-month in May relative to 1.3% m/m in April 2025. Nonetheless, headline consumer inflation remained well contained after a surprise pause at 2.8% year-on-year in May 2025, with the monthly trend still flat and decelerating below 1% at 0.2% month-on-month. Fruit and nuts inflation sees mixed movement While the fruits and nuts inflation posted the biggest annual increase of 6.2 percentage points from April to 13.5% year-over-year in May, it fell for the third consecutive month to -1.3% month-over-month, which reflects the current favourable supply situation following excellent seasonal production conditions. Earlier weather-induced supply constraints with harvest and logistics delays caused a surge in vegetable inflation to 10.3% year-on-year (+5.8 percentage points) and 5.9% m/m (+1.2 percentage points) in May 2025. The rally in meat prices continued on the back of tight supplies, thus lifting meat inflation by 1.2ppts from April to a 23-month high of 4.4% year-on-year in May 2025. Monthly meat inflation, however, decelerated to 2.3% month-on-month in April and to 1.2% in May 2025. We are not surprised at this development as prices at the producer level surged across the livestock complex, with average class A beef carcass prices breaching the R70/kg level for the first time in history. Prices accelerated despite the disease outbreaks that have now complicated the price outlook and the domestic supply dynamics. Foot-and-mouth disease outbreak tightens supply The foot‑and-mouth disease (FMD) outbreak is now in full swing, resulting in an export ban and a quarantine of affected establishments. The quarantine has created a short supply crunch due to the inability to slaughter. Further, the constrained import supplies due to avian influenza (AI)-induced ban on South Africa's biggest poultry meat supplier, Brazil, elicited further upside for prices, particularly the mechanically deboned meat (MDM), which is used in the manufacturing of products such as polony, etc. SA is a net importer of MDM due to a lack of domestic capacity. Meanwhile, the bread and cereals inflation continued to surprise on the downside after decelerating to 4.5% y/y and only nudging 0.1 percentage points from April to 0.4% month-on-month in May 2025. It is apparent that the lag effect of supply shock and the consequent spike in grain prices in the past eight months did fully materialise. Globally, food inflation as per the United Nation's Food and Agriculture Organization (FAO) decelerated sharply by 2 percentage points from April to 6% y/y in May 2025 as declines in cereal, vegetables, and sugar prices more than outweighed gains in the animal protein categories (dairy, meat). Strong global demand boosted the monthly bovine, ovine, and pig meat prices, which advanced by 1%, 8.3%, and 2.3% month-on-month, respectively, in May. Animal protein prices diverge globally However, global pig meat inflation remained in deflationary mode for the fourteenth consecutive month at ‑0.4% year-on-year while bovine and ovine meats were sharply higher by 11.8% and 29.7% year-on-year, respectively. AI hammered the poultry market as import bans from some countries and the subsequent oversupply forced a reduction in quotations from Brazil. Poultry meat came in at -0.8% month-on-month but accelerated to 3.3% year-on-year in May from 2.6% year-on-year in April. On a parting note, the combination of a renewed rand exchange rate appreciation and a decent summer crop harvest outlook poses a downside risk to most agriculture commodities for the year ahead. Further, meat prices are increasingly surging into consumer resistance territory and may not sustain these levels for a longer period, given the timid economic growth and subdued consumer buying power. Nonetheless, the continued downside at the pump, with fuel falling by 14% year-on-year, as well as a flat to lower interest rate outlook, bodes well for consumer financial recovery for the remainder of the year. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Yahoo
4 hours ago
- Business
- Yahoo
High street hit as retail sales slump in month after "awful April" bill hikes
Retail sales fell sharply in May in the month after consumers were hit by a raft of 'Awful April' higher bills that bit deeply into household budgets. Latest figures from the Office for National Statistics show the volume of sales fell 2.7% in May, the biggest monthly decline since December 2023. It was the first monthly fall in the year and follows a rise of 1.3% in April. The downbeat figures will come as a blow to the high street after a relatively robust start to the year and raise fears that that the April bill increases - on essentials ranging from energy to mobile phones - will hit the sector hard over the coming months. Supermarkets saw a particularly big fall with volumes down by 5% following growth of 4.7% in April boosted by fine Spring weather. This was the largest monthly fall since May 2021. Retailers contacted by the ONS spoke of 'of inflation and customer cutbacks, alongside reduced sales of alcohol and tobacco products.' Food inflation rose to 4.4% in the year to May. Non-food stores saw a smaller fall of 1.4% over the month with fashion and household goods stores such as hardware, paints and glass retailers taking the biggest hit. According to the ONS retailers 'mentioned reduced footfall and consumers having completed home projects earlier than usual this year because of good weather, leading to lower sales in May.' Online sales were down by 1%. On an annual basis overall retail sales volumes fell by 1.3% over the year to May 2025. They are still 2.7% below pre-pandemic levels in February 2020. Charlie Huggins, manager of the Quality Shares Portfolio at Wealth Club said: "Cracks in consumer spending may finally be starting to appear - retail sales volumes came in much worse than expected in May. 'The sales decline was broad based with every category seeing weakness and online spending also falling. 'Food sales were especially weak, giving up all their gains in April, and a bit more. Clothing also had another weak month suggesting that consumers may be cutting back on discretionary purchases. 'It's only one month, but these figures do not paint a great picture. Cracks in the UK economy are starting to appear and consumers are starting to feel less confident. This will intensify pressure on the Bank of England to cut rates sooner rather than later." Sagar Shah, Associate Partner at consultants McKinsey & Company said: "Even the second sunniest May on record couldn't stop retail sales slipping into the shade, down 2.7%. This is the first month this year that retail figures have fallen. 'The caution could in part be attributed to food inflation being at the highest level since February 2024. And, other fiscal pressures that retailers are facing that could potentially be impacting promotions. ' Oliver Vernon-Harcourt, head of retail at Deloitte, said: 'For the first time this year, retail sales fell more than expected, as two bank holidays and further good weather were not enough to entice spending. 'A late Easter combined with the sunniest April on record brought some seasonal sales forward, meanwhile continued inflationary pressures from food, furniture and household goods hampered sales volumes. 'Overall, consumers remain cautious in the face of persistent inflation, increased utility costs and ongoing geopolitical uncertainty. While this transpired into fewer purchases in May, there is a broader picture of improving household finances. 'Consumers have been saving at one of the highest levels on record, and with robust real wage growth, this could generate some helpful tailwinds for the retail sector throughout the rest of 2025. 'With warm weather set to continue, retailers will hope to see a boost from the sale of summer food, clothing and outdoor offerings, resulting in a return to growth in the months ahead.' Error in retrieving data Sign in to access your portfolio Error in retrieving data
The Review Geek
10 hours ago
- Entertainment
- The Review Geek
Has We Were Liars been renewed for Season 2? Here's what we know:
Summary We Were Liars is the latest Amazon Prime Video Original. This psychological thriller has everything from family drama and betrayals to teen angst and memory loss. Amazon Prime Video determines whether to renew a show based on various factors such as completion rate, viewership numbers, production costs, and more. As of now, there's no news regarding the renewal of We Were Liars, but we look at the possibility of a Season 2. We Were Liars is another exciting Amazon Prime Video Original that graced our screens in May 2025. With complex themes of manipulation, privilege, memory loss and burying weaknesses, it's for those who are fans of thriller dramas. The 8-episode show stars Emily Alyn Lind, Shubham Maheshwari, Esther McGregor, Joseph Zada and more. Based on the book of the same name by E. Lockhart, it is helmed by CW regulars, Julie Plec and Carina Adly Mackenzie. With bittersweet moments and plot twists, the season finale will have viewers on the edge of their seats. If you've watched the first season and want to know if there will be a second, this article has all the details you're looking for. Here's everything we know: What is We Were Liars Season 1 about? We Were Liars begins in Summer 17 with an amnesiac Cadence Sinclair trying to recall why she washed up on the beach of her summer house on Beechwood Island, injured and naked, a year ago. The Liars, comprising Gat and her cousins, Johnny and Mirren, were her best friends but haven't spoken to her all year. Desperate to figure out what went down and who is responsible, Cady heads back to Beechwood for answers. Summer 16 is happy, carefree and perfect, that is till Cady starts noticing all that is wrong with her rich and privileged family, the Sinclairs. Her mom and her aunts' sibling rivalry gets worse as they vie for the biggest slice of the inheritance. Her grandparents pit their children against each other to prove themselves. Gat seems to have gotten hot but also conscious of the Sinclairs' prejudice. And Johnny is hiding something that is more than just a kiss gone wrong. We have extensive coverage of We Were Liars Season 1 on the site, including recaps for all episodes. You can find those HERE! Has We Were Liars Been Renewed for Season 2? At the time of writing, Amazon Prime Video hasn't renewed We Were Liars for a Season 2. Amazon tends to look at views and the drop-off rates before renewing or cancelling the show, along with the critical success. Some shows are instantly renewed like Reacher or Fallout while others take years such as THEM and Upload. Popular Amazon Prime Originals do get renewals most of the time but only time will tell if We Were Liars will get a Season 2. But with the novel's prequel, 'Family of Liars' being acquired by Amazon as well, it seems like the studio is interested in renewing the show. What do we know about We Were Liars Season 2? Not much is known about We Were Liars Season 2 at the moment, given that it has not been greenlit. There are two ways it can go. If it is a prequel, it will follow 'Family of Liars'. Some of the novel's premise has already been set up in Season 1 with the mention of Rosemary, the dead fourth Sinclair sister, Carrie's addiction and plastic surgery, her friend, Yardley, Bess' apathy at Rosemary's death and Penny's sinister participation in whatever happened when they were 16. If it is a sequel, there is ample scope for that as well as Season 1 ends with Johnny getting stuck on Beechwood. If the show does return, you can expect a season with approximately 8 episodes, each lasting around an hour. Nothing is confirmed yet, but we'll be sure to update this page as soon as any new information comes in. Would you like to see We Were Liars return for a second season? Or do you think the story has run its course? Let us know your thoughts in the comments below!
Washington Post
17 hours ago
- Business
- Washington Post
EV Sounds Quiet Street
RFK Jr. has big plans for your food. Here are the facts. May 2, 2025
Yahoo
2 days ago
- Business
- Yahoo
When will housing prices drop? Outlook as home inventory rises.
Data from shows that existing home sales are slowing down — the typical home for sale spent 51 days on the market in May 2025. This is six more days than last May. So, you might be wondering: If the housing market is cooling, when will housing prices drop so I can get my slice of the homeownership pie? If you look back a little farther, there's more to the story: Houses are now selling at roughly the same rate as before the COVID-19 pandemic. If you're determined to buy or sell, here's what you need to know about today's residential real estate market and your options for moving forward. Learn more: The best mortgage lenders for first-time home buyers This embedded content is not available in your region. In this article: Are house prices going down? When will house prices go down? Strategies for eager buyers FAQs The short answer: No, housing prices are not going down. However, they're increasing at a slower rate than in the last few years. The longer answer: As of May, reported that year-over-year house prices are relatively steady, putting the median sale price at $440,000. The median price per square foot has increased by 0.6%. So, while the price per square foot is up, the incline is fairly small. Housing inventory is increasing, which can be good for home buyers — more houses on the market means less competition, which typically keeps listing prices reasonable. However, inventory is still lower than before the pandemic. Some reasons for the housing inventory shortage include homeowners reluctant to give up the 3% mortgage rates they secured early on in the pandemic — especially as 30-year mortgage interest rates hover in the upper-6% range. Home affordability also plays a role. Even if buyers are willing to give up those low mortgage rates to buy a new home, high home prices and high mortgage rates can make that decision costly. It doesn't help that mortgage rates remain stubbornly high. The average national 30-year fixed mortgage rate has hardly moved since this time last year, and economists don't expect rates to plummet anytime soon. Homeowners may not be ready to give up their super-low rates just yet. Dig deeper: Which is more important, a low interest rate or house price? It's unlikely consumers will see house prices drop meaningfully during 2025 — though on the bright side, prices probably won't spike. Home prices will drop when a mixture of economic factors favorably collide, primarily lower interest rates and increased housing supply. Those looking for lower interest rates will need to play a game of patience. The Federal Reserve cut the federal funds rate three times in late 2024, but these decreases haven't pushed mortgage rates down. The Fed also has kept the rate unchanged at all of its 2025 meetings so far, indicating it will be conservative with rate cuts this year. This approach could keep rates relatively high. Learn more: How the Federal Reserve rate decision affects mortgage rates Increasing the housing supply will involve two factors: current homeowners and home builders. These two demographics drive housing supply from different angles. For current homeowners, leaving a 3% mortgage rate for one in the 6.75% range is a tough pill to swallow. Bob Smith, head of real estate at Advisor Credit Exchange, said via email that supply will naturally increase as homeowners downsize, upsize, or move to another metro. Lower interest rates would increase housing affordability across the board. As rates come down, sellers may feel inspired to sell while they can still capture gains from recent price hikes and score a lower rate on a new mortgage. Builders also contribute to the housing supply. According to the U.S. Census Bureau, new home permits, constructions, and completions were down in April 2025 from a year ago.. Builders had significant inventory on hand when the pandemic hit and don't want to repeat that error, especially with many prospective home buyers reluctant to buy due to interest rates. So, if you think interest rates may play a significant role in supply, you're right. Though rates aren't the only factor driving housing costs, they are a bit like the key that could help increase supply and unlock a downward price trend. Read more: Buying a new construction home — pros, cons, and how to finance it Despite the lack of hope for falling home values for 2025, those eager to buy aren't left out in the cold. Here are a few strategies to consider if you see homeownership in your not-so-distant future. Buy with an eye on refinancing. You could get into the market today with a home in your price range and look to refinance down the line. While you might get less house for your budget, you can start building equity. When rates come down, you can refinance your mortgage to a lower rate or even a different type of mortgage loan altogether. Start small. While it might not be your dream home, you could find housing happiness in today's market by purchasing a condo or buying a lot and putting a tiny house on it. Both home types can cost considerably less than a single-family home and help you build equity that translates to cash when you're ready to upsize. Go modular. No, these aren't mobile homes. Modular homes are those that look just like a single-family home when constructed. The only difference is that they're built in modules off-site and assembled when they get to your lot. They can also cost 10% to 20% less than a traditionally built home. Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. It may be good to buy a house in 2025 because interest rates will probably gradually decrease, though the future of mortgage rates is hazy. Keep in mind that if rates drop, housing prices and competition will probably increase. Typically, house prices will fall when supply exceeds demand, and sellers need to lower prices to entice buyers. As of May 2025, home supply was increasing, but not to the point where the number of homes for sale had caught up to pre-pandemic numbers. If your finances are in order and it's the right stage of your life, it could be a smart time to buy a house. Interest rates have stubbornly remained elevated, but they aren't at sky-high levels. Home prices are also increasing more gradually. This article was edited by Laura Grace Tarpley.
