South African consumers face a double financial blow from March ascost increases take effect.
South African consumers will need to grapple with increased energy costs in the coming weeks, with both an electricity price hike and steep fuel price set to hit, says FNB economist Koketso Mano.
“Generally, we expected electricity price inflation to be in double-digits once again this year. Inflation in 2021 was nearly 18% for direct consumers and 14% at the municipal level. South Africans who rely on grants and are facing financial tightening after the Coivd-19 pandemic are particularly at risk, as more of their monthly funds will go to electricity, she said.
“These electricity and petrol price increase filter through to the production and distribution of goods. It also includes the delivery of services, transport and general household living costs.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Huge petrol price increase for South Africa in MarchSouth Africans will pay even more per litre of fuel from Wednesday than mid-month predictions suggested. Here’s how much more you can expect to pay per tank of petrol.
Read more »
EU-Africa summit and its implications for China-Africa relationsChina and the EU are competing for the African sphere of influence to boost their global geopolitical standing
Read more »
South Africa backtracks on salary increases for civil servants — saves R75 billionThe Constitutional Court has upheld a ruling that allows government to renege on a deal to increase the salaries of 1.3 million public servants.
Read more »
Take-home pay in South Africa increased sharply in January — but there’s a catchBankservAfrica’s monthly Take-home Pay Index revealed that the average salary in South Africa increased substantially in January, but fewer people are receiving their total pay.
Read more »
South Africa must stop sheltering war criminalsSouth Africa must stop sheltering war criminals - Politics have come in the way of South Africa upholding its commitment to international criminal justice as the ANC reconsiders its 2016 threat to leave the international criminal court
Read more »
The average take-home pay in South Africa right nowSouth Africa’s average salary in January 2022 increased at its fastest rate since the pre-pandemic January 2020 period, according to the monthly BankserAfrica Take-home Pay Index (BTPI).
Read more »