Steers recently opened a restaurant in the UK, and a friend took this picture of the price list.
A King Steer combo meal costs £7.29 in the UK, which at today’s exchange rate of 15.30 rands for 1 pound sterling, equals a rand equivalent price of R111.54.
Meanwhile, in SA, a King Steer combo meal costs R64.90, a 42% discount to the UK price.
We shouldn’t read too much into this, it’s more for interest than anything else. But it may be an indication that the rand has gotten a little undervalued following the recent bout of weakness. It may also indicate that SA prices are set to ratchet sharply higher from here. Or that we will experience a combination of rand strength and accelerating inflation in coming quarters.
PS. Also note the price of an Original King Steer burger is up 7.5% from a year ago.