Inox Wind receives 200 MW order worth 1600 crore rupees from NLC India

According to data from the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD), the household affordability index showed an increase in July. This data was published on Wednesday.

Food Price Dynamics

The average cost of a household food basket in July was R5,530.52. PMBEJD Director, Marvin Abrahamse, reported that the average price of this basket increased by R28.11 compared to the previous month and by R87.81 year-on-year.

Changes in Individual Commodity Prices

In July 2026, prices for items such as apples rose by 5% or more. Among goods whose prices increased by 2% or more are maize meal, vegetable oil, salt, potatoes, frozen chicken portions, bouillon cubes, eggs, sausage, beef offal, tomatoes, sweet potato, cabbage, creamers, canned sardines, peanut butter, and polony.

At the same time, some products became cheaper. Potatoes were among the items whose price decreased by 5% or more. Goods whose prices decreased by 2% or more include baking powder, samp, onions, soup, tea, beef liver, fish, spinach, green pepper, canned beans, bananas, oranges, and margarine.

Regional Price Fluctuations

Abrahamse noted that the rise in food basket prices was observed in the cities of Johannesburg (up by R50.07), Cape Town (up by R69.26), Springbok (up by R164.70), and Mutatabu (up by R129.49). Conversely, in Durban (down by R40.31), Pietermaritzburg, and Mthatha (down by R74.15), basket prices decreased.

Overall Inflation and Child Nutrition

Furthermore, Abrahamse mentioned that the latest Consumer Price Index (CPI) from Statistics South Africa for June 2026 showed an overall inflation rate of 5.0%. Inflation in the food and non-alcoholic beverage segment was 0.4% monthly and 1.6% annually. The Producer Price Index (PPI) from Stats SA for May 2026 showed a 7.4% decline in agriculture, with plant and horticultural products falling by 15.4%, while live animals and animal products rose by 3.2%. The PPI for June is expected to be published on July 30, 2026.

In July 2026, the average monthly cost to provide a child with a basic nutritious diet reached R980.66. Over the past month, this cost increased by R3.14 (0.3%), and year-on-year, by R23.26 (2.4%).

Social Welfare and Poverty

Abrahamse added that the child grant of R580 per month is 32% less than the National Food Poverty Line (R855 per month based on May 2025 prices) and 41% lower than the average cost of feeding a child (R980.66).

The Egyptian Minister of Oil and Mineral Resources, Karim Badawy, met with the Cypriot Ambassador to Egypt, Polly Ioannou, to discuss accelerating joint projects in natural gas and expanding cooperation in mineral extraction.

Development of Gas Projects

Badawy noted that Egypt and Cyprus have made stable progress in developing Cypriot gas fields and connecting them to Egypt's gas infrastructure through partnerships with major international energy companies. He emphasized that these projects will strengthen Egypt's position as a regional energy hub, support the region's energy security, and increase gas exports to European markets.

Mining Industry and Investments

Furthermore, the minister reviewed recent reforms aimed at improving the investment climate in Egypt's mining sector, noting that they have attracted new international interest. Badawy added that cooperation with Cypriot companies is expected to grow as investment opportunities expand.

Resumption of Exploration and New Directions

The parties also discussed the return of FMC, a Cyprus-based company, to resume gold and mineral exploration in Egypt's Eastern Desert. Polly Ioannou reported that this company plans to expand its activities. She also mentioned that another Cypriot company is studying investment opportunities in Egypt's maritime supply sector. At the end of the meeting, Badawy thanked Ioannou for her efforts to strengthen relations between Egypt and Cyprus before the conclusion of her diplomatic mission.

Apple's market value momentarily surpassed the $5 trillion mark yesterday, establishing it as the second corporation in history to achieve this feat. After reaching the peak, the market value experienced a slight retraction, falling to $4.99 trillion, indicating that the milestone may be recovered soon.

Market leadership position

Apple had taken the position of the world's most valuable company in July, surpassing NVIDIA. NVIDIA, which held this leadership since June 2025, saw its market value decrease, dropping from over $5 trillion to $4.77 trillion.

Factors behind Apple's success

Apple's success is attributed to the robust demand for its products. Additionally, the company adopted a more cautious approach in the current technological dispute, opting not to participate in the massive investments in Artificial Intelligence (AI) that have drained large amounts of cash and pressured other major technology companies. The iPhone manufacturer chose to use Google's AI to boost its services after falling behind in this area. One benefit of this choice was avoiding heavy investments in data center infrastructure. In terms of stock performance, Apple's shares registered an increase of approximately 25% during the year.

New offer for iPhones in the US

In the United States, purchasing an iPhone may present a new modality. Apple launched a program that allows consumers to rent devices for a period of up to two years, with monthly plans starting at $17.99 (approximately R$ 92). This initiative, called Upgrade, will be implemented in collaboration with Klarna and comes amid rising prices for certain company items.