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Home News

South African families feel the squeeze as food prices continue to increase

Food and non-alcoholic beverages increased by 11.3% year on year, up from 10.1% recorded the month before.

Doctor Mahlaule by Doctor Mahlaule
2022-10-03 15:15
in News
Image from Twitter: PMBEJD/@CapeTownEtc

Customers struggle with the constant food price increases. Photo: Twitter: PMBEJD/@CapeTownEtc

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South African families are feeling the tight squeeze as the food prices continue to increase making food items which used to be affordable more expensive.

The latest Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) shows that food prices in the country continue to increase despite lower fuel and global commodity food prices.

Statistics South Africa (Stats SA) reported that despite fuel prices dropping slightly in August, the price of bread, milk, cereal, meat, eggs, cheese, rooibos tea, instant coffee, detergents, and laundry soap had increased.

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For September, the group’s basket of nutritional food came to R4.804. On a monthly basis, the average cost of the basket increased by R30.28 (0.6%), from R4,775 in August 2022, while year-on-year, the basket increased by R586.39 (13.9%) from R4.219 I September 2021.

Food and non-alcoholic beverages increased by 11.3% year on year, up from 10.1% recorded the month before.

The PMBEJD said that rising food prices are of serious concern given that the fuel and global food price trends, raising questions about whether or not retailers and the supply chain are fleecing consumers.

“For the past three months, fuel prices and global food commodity prices have come down, yet we do not see a corresponding drop in food prices at the retail level,” it said.

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“Due to lack of transparency in the local food value chains, we are unable to identify where in the chain inflation remains stubbornly high. The question remains whether the industry is passing on the lower costs to the consumer or not?

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The group said the Reserve Bank’s rate hikes have been done with the argument that it would being down food inflation. However, this cannot be achieved if retailers and the supply chain for food are withholding savings from customers.

“If, indeed, retailers are not passing on lower costs, then raising interest rates will simply bring more pain to the South African consumer, make us all poorer and potentially increase unemployment and further contract the economy without addressing the problem of lower food price inflation,” it said

Source: Business Tech, IOL, image from Twitter: @JaEconomics

Tags: Food PricesStatistics
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Doctor Mahlaule

Doctor Mahlaule

Doctor Mahlaule previously worked as a Freelance Journalist at Find-it SA where he was responsible for writing news articles and sharing them on social media platforms. Doctor Mahlaule holds a Diploma in Journalism, BA in Communication Science and a BA Honours in Media Studies. Doctor began his journey as a knowledge Management and Communications Intern at Zenex Foundation. He was responsible for support in event management, social media, website maintenance, writing and brand management. On weekends Doctor attends prison ministry and shares the scriptures with inmates at Krugersdorp prison and plays soccer in the afternoon on some weekends. He has a passion for reading and writing and enjoys going out with friends and socialising in his spare time. He has a one-year-old son and is planning on getting married soon. When asked about what keeps him going, he said: “My family keeps me going. I’m the man I am because I come from a loving home. I have a very supportive family who always encourages me to keep pushing hard.”

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