Falling prices – the good, better and best
According to Statistics SA, data shows that there are in fact items that are cheaper now than they were at the beginning of the year
WHILE hard to believe, the prices of consumer goods have actually dropped since January.
According to Statistics SA, data shows that there are in fact items that are cheaper now than they were at the beginning of the year.
But cash-strapped South Africans have also had to deal with rising prices for a number of consumer items according to Stats SA’s latest Consumer Price Index (CPI) release.
During 2017, consumers have had to fork out more money to pay for education, medical services, insurance, water, electricity and meat.
The good – fuel and appliances
Postal and telecommunication services, recreational equipment, fuel, hotels and appliances all experienced slight price decreases.
Fuel overall was 1,7% cheaper in August than it was in January, but the year is not over yet.
Fuel prices increased between August and September, and the recent adjustment in fuel prices in October saw the price of 93 octane petrol rise by 25 cents from R13,49 to R13,74 per litre.
The extent to which these changes will impact inflation will only be fully revealed in Stats SA’s CPI releases in October and November.
Household appliances and tableware prices fell by 2,4% in August compared with January, with price decreases recorded for irons, kettles, toasters and washing machines.
The average price of a new washing machine, for example, fell by R216 over this period, from R4 656 to R4 440.
The better: bread, butter and vegetables
South Africans spend more money on beer than vegetables as revealed in a recent Stats SA article.
While that is the case, vegetable prices have fallen by 3,6% in the first eight months of this year, after rising rapidly in the second half of 2015 to peak in early 2016.
Lettuce, tomatoes, pumpkin and potatoes in particular will provide some cash relief to your healthy lifestyle.
Bread and cereal prices have also eased during the year after rising quite steeply in 2016.
With crop production recovering from one of the worst droughts in recent history, bread and cereal prices dropped by 4,0% in August compared with January.
Rusks and bread flour are notable items that have fallen in price.
Together with bread products, margarine (and other oils and fats) is also cheaper, making your lunchtime sandwich that much more cost effective.
The best: fruit and telecommunications
Bananas, plums and pineapples contributed to fruit prices falling by 8,4% in August compared with January.
The last time the fruit price index was around this level was in June 2016.
The price index for telecommunication equipment continued on its long-term downward trend, falling by 8,6%.
The average price of a cellular phone, for example, decreased by R82 from R2 622 in January to R2 540 in August.
Since January 2014, overall prices for telecommunication equipment have fallen by 36%.
HAVE YOUR SAY
Like our Facebook page and follow us on Twitter.
For news straight to your phone invite us:
WhatsApp – 072 069 4169
Instagram – zululand_observer
