Shoprite wins as consumers seek cheap food to beat inflation.

Johannesburg - South African shoppers with limited spending money are turning to low-cost supermarket chains such as Shoprite Holdings [JSE:SHP] for cheaper food and eschewing new clothes to counter accelerating inflation.

Africa’s biggest food retailer on Tuesday reported 7.4% half-year sales growth at South African stores that have been open for more than a year, equal to how much the company raised prices in the period.










By Janice Kew.
Full story at Fin24.