The latest Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) shows that food prices in South Africa remain stubbornly high, with warnings that the pressure at the tills will linger for longer.
For October 2022, the average cost of the Household Food Basket is R4,787.83. Month-on-month, the average cost of the basket decreased by R18.03 , from R4,805.86 in September 2022.Notably, the year-on-year increase is lower than food inflation tracked by Stats SA for September but still far outstrips headline inflation, which was recorded at 7.5% in September 2022, down marginally from 7.6% in August 2022.
According to the PMBEJD, in October 2022, the cost of a basic nutritional food basket for a family of four persons is R3,234.69 – this is against the national minimum wage of around R3,800 a month for someone who works a full month. The Bureau for Economic Research ’s outlook for CPI sits around 7% year-on-year for the next several months, coming off the back of annual producer price inflation , which remains elevated.
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16 foods you’re paying way more for in South Africa right nowThe latest Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) shows that food prices in South Africa remain stubbornly high, with warnings that the pressure at the tills will linger for longer.
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