On the 2nd of July we reached the halfway mark of 2023. It has flown by faster than anyone anticipated. With it we have had constant pressure on our budgets and overall financial health. Many of our followers on social media have expressed their concern with the rising cost in food, petrol, and basic living needs.
Unfortunately, June only brings with it a few decreases. 93 and 95 octane fuel have both decreased by 71 cents. Diesel decreased by 84 cents and Paraffin decreased by 43 cents per litre. LPGAS increased by 75 cents per kilogram.
The food basket also increased by R47,64. See the table below for specific food increases.
Inflation may have decreased to 6.8%, the repo rate and prime lending rate increased to 8.25% and 11.75% respectively. This means that your budget needs to factor in debt repayment increases as well as provisional savings for next month’s markup on groceries. Remember, if your debt repayments are overwhelming your budget, that help is available.