Consumers are feeling the pinch
Motorists should brace themselves for an 18 cents a litre hike in the price of petrol next month.
Petrol has increased by over R1 a litre in the last two months and CEO of Debt Rescue, Neil Roets, says this will have a knock-on effect on the prices of all other commodities.
He says food shortages caused by the drought have worked their way through the economy and further increases can be expected. Roets says the fact that most consumers owe more than 75% of their monthly salaries to financial institutions shows how dire the situation is.