Major hike in food prices and petrol prices are expected and South African consumers have been warned to budget strictly.
According to EWN, Economists are predicting at least a 50 percent hike on the price of red meat because of the drought and an 18 cents increase for a litre of petrol.
Debt Rescue CEO Neil Roets has advised consumers to save as much as they can and seek debt counselling.
“I expect a fuel price increase of about 18 cents a litre, but along with that we’re also seeing an increase in food prices. Meat prices will be going up soon, by about 50 to 60 percent.”