I’m an avid fan of Cadbury’s Flake, so imagine my shock and horror when I found out that it costs R12 for a stick of chocolate, writes Cape {town} Etc’s Lynn Cupido.
Between food and petrol, prices in South Africa have reached an alarming level with recent statistics published in the consumer price index indicating that annual headline inflation now sits at 5.9% since December 2021.
According to Business Tech, this is the highest annual increase since March 2017, which was at a rate of 6.1%. Food and non-alcoholic beverages appear to have taken the brunt of the inflation hit, which increased by 5.5% annually and contributed a percentage point to the total CPI annual rate.
Unsurprisingly, the highly criticised fuel hike appears to be at the heart of South Africans having less money in their pockets.
“Fuel prices jumped by 40.5% in December 2021 compared with December 2020, with the price of inland 95-octane petrol rising to R20.29 per litre. This is the first time that the price has broken through the R20 per litre mark.”
The unprecedented rise in petrol prices is the main culprit behind the 16.8% annual rise in the transport index, which is up from 15,0% in November 2021.
Next on the list is groceries, particularly meat. The annual rate recorded for meat in December soared to 8.6% with prices for steak rising by 2.8%, stewing beef by 2.4% and mince by 1.3%.
South Africans looking to get their fill of fat and oils had to contend with high rates of inflation, with an annual increase of 20.8% for December. However, this appeared to take a slight dip from November’s 21%. According to statistics, consumers can expect to pay an average of R30.22 for a 750ml bottle of cooking oil, resulting in a 19c increase that took hold in December.
Looking to enjoy a thick and delicious peanut butter sandwich? Well, you may need to go easy as a 400-gram jar of peanut butter increased by 60c to R34.52.
Staples such as bread and cereal did not escape the inflation either, albeit slightly slower than its grocery counterparts with the annual rate sitting at 1.8% in December. This is a drastic decrease from 2021’s high of 4.9% in May.
Judging by these statistics it looks like South Africans may need to count their pennies and check their budgets a little closer in 2022.
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