May fuel increases threaten to push living costs higher in Johannesburg
South African consumers are facing another round of price pressure in May as fuel costs are expected to rise, worsening an already strained cost-of-living environment and adding to food inflation.
Voices from business and civil society
Neil Roets, CEO of Debt Rescue, warned of the pressure on households and the wider economy. He said: “Even though the expected hikes have moderated from earlier in April, the reality is that consumers are still facing a significant increase, which many households simply cannot absorb at this time.”
Roets added: “Asking consumers to once again “brace” for impact is simply not realistic. Most households have already run out of room to adjust their budgets. They are hanging on by a very thin thread.”