Food Basket Figures Reveal Massive Increases
The National Agricultural Marketing Council’s (NAMC) Food Basket Monthly keeps track of the cost of 28 basic foodstuffs on a consistent basis and thereby allows us to see how the price of food is actually going up each month (no, it never comes down. Don’t be silly).
If ‘normal’ CPI inflation is said to currently be 4.5% over the last year then the increases in certain items reveal that the prices of many items at the shops are going up faster than others.
For example, in urban areas 400g of tinned fish by 6.8% while the ever-popular polony went up by 13.8% and a 2.5kg packet of white sugar went up 8.7%.
Staples such as brown bread went up by 10.9% while white bread went up 8%. Maize meal in a 5kg packet went up 12.5%.
Fruit and Veg seem to have been some of the biggest climbers recently with apples going up 8.9 %; bananas by 15.7%; cabbage also went up by a massive 17.9% while tomatoes are up a significant 15.2%.
Since the NAMC food basket always buys the same items it is possible to see how much this month’s shopping, to support this imaginary family, has gone up. Prices are up by a combined R14.70. That is a significant monthly creep upwards in prices.
Make Cuts & Get Help
Residents across different municipalities in the country are also getting hit by Tariff increases and hikes as water, property rates and electricity are all going up. For Example, residents in eThekweni are facing a 6.9% property rate increase, a 15% water tariff increase and are being hit by Eskom’s hefty 13.07% bump. The pressure is on and set to stay that way.
‘If you are struggling to make ends meet then don’t turn to more credit to try to get by’
If you are struggling to make ends meet then don’t turn to more credit to try to get by. This will only get you deeper in trouble over time. Rather make those cuts that you reasonably can and then consider approaching a local Debt Counsellor for advice and information on whether debt review could help you manage your debt repayments better each month.
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