Kaya 959 Reporter
South Africans are feeling the pinch as many products and services keep going up.
Statistics South Africa (StatsSA) has released its latest consumer price index, which revealed that annual headline inflation accelerated to 5.9% in March from 5.7 per cent in February.
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Kaya Biz spoke to Mervin Abrahams, Director of the Pietermaritzburg Economic Justice and Dignity Group about the various products and services that have sky-rocked in price.
LISTEN TO THE FULL CONVERSATION HERE:
Abraham gave an overview on how they track food prices.
“We track the cost of a food basket of 44 very basic foods, these are kinds of food that people in the low-income sector will tell us that they try and purchase on a month to month basis.”
“It is good to sort of get a global view of this basket, the price of this basket in April is R 4 542, 93, this is the highest our basket has ever been since we started tracking in June of 2018.”
“This is a month on month increase of R 92,84 which is 2,1% and a year-on-year increase of 8,2% or a rand value of R 344.” says Abrahams,
Business Tech reports the following commodities and services saw some of the greatest annual price increases (March 2021 vs March 2022):
- Oils and fats: +19.8%
- Electricity and other fuels: +14.1%
- Meat: +9%
- Hotels: +7.8%
- Wine: +7.7%
- Beer: +7.7%
- Restaurants: +6.2%
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