Consumers need to budget better thanks to food increases

The recent national budget speech was a stark reminder that consumers need to get used to doing with less. They have to deal with the rising costs of living, especially the gradual rise in food prices

Due to the recent food increases consumers are forced to budget more effectively.
BURGERSFORT – The recent national budget speech was a stark reminder that consumers need to get used to doing with less. They have to deal with the rising costs of living, especially the gradual rise in food prices.

On March 1, the Steelburger/Lydenburg News team took to the streets to compare food prices from three supermarkets in town. At each store the same day-to-day necessities were compared, choosing the most affordable items. The information below indicates the type of product and price differences among the supermarkets:

Shoprite:

Sasko white bread (one loaf) – R10,79

Moordrift 2 litre full cream milk – R22,79

Nescafé Ricoffy 750 grams (coffee granules) – R79,99

Selati white sugar 2,5 kilograms – R27,99

5 kilogram potatoes – R49,99

Impala 2,5 kilogram special maize meal – R23,99

Ritebrand one-ply toilet paper (bag of 10 rolls) – R29,99

Pick n Pay:

Sasko white bread (one loaf) – R11,69

Moordrift 2 litre full cream milk – R22,49

Nescafé Ricoffy 750 grams (coffee granules) – R 83,99

Selati white sugar 2,5 kilograms – R32,99

4 kilogram potatoes – R54,99

Impala 2,5 kilogram special maize meal – R23,99

No Name brand one-ply toilet paper (bag of 10 rolls) – R39,99

Tubatse SuperSpar:

Sasko white bread (one loaf) – R11,99

Clover 2 litre full cream milk – R25,99

Nescafé Ricoffy 750 grams (coffee granules) – R69,99

Selati white sugar 2,5 kilograms – R35,99

3 kilogram potatoes – R39,99

White Star 2,5 kilogram maize meal (Impala not available) – R25,99

SaveMor one-ply toilet paper (bag of 10 rolls) – R23,99

The comparison shows the reality that this will be a challenging financial year for a great deal of people due to the consistent rise in the cost of living. “Consumers should cultivate good financial habits like reassessing their positions, curbing impulsive spending where possible, boosting cash reserves through savings or investments, improving management of credit commitments and avoiding excessive debt” said Ms Ester Ochse, channel head at FNB financial advisory services.

Mr Pravin Gordhan, finance minister’s announcement that effective April 6 the general fuel levy will be raised by 30c per litre to R2,85 per litre for petrol and R2,70 per litre for diesel , is going to have a major impact on not just motorists but on the economy as a whole, according to Neil Roets, CEO of a debt management company, Debt Rescue.

The reason for this increase is that most goods in South Africa are transported by road. “While budget increases announced by Gordhan were reasonably equitable, the immediate future for consumers looks bleak. Consumers with heavy debt loads are going to feel the increase in fuel price the most,” said Roets.

Like
Like Love Haha Wow Sad Angry

Need immediate financial help?

Thank you!

We look forward to the opportunity to get you debt-free!

Subscribe to Our Weekly Email