How impossible are food prices looking in Joburg, Cape Town, and Durban?

How impossible are food prices looking in Joburg, Cape Town, and Durban?

The hike in petrol and other essential resources is not helping.

grocery basket
iStock.

Food is a necessity - we need it to stay alive. Unfortunately, it is something we have to buy with money that one usually has to work for. Then you live in a country where unemployment is at its peak. That is unfair and impossible. 

But there is very little we can do about this except be in the know about what prices for food are looking like in your city. 

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The Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) showed that basket prices over the last 12 months have increased by 10%. 

The average Household Food Basket increased by R98.08 (2.3%) month-on-month, and R400.83 (10.2%) year-on-year. That is a lot! 

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The report revealed that the electricity tariff hike of 14.59% in June and July 2021 would definitely see price hikes of goods and services down the line. And now we see the effects in higher food prices on supermarket shelves. 

Cape Town saw an increase in prices in October by 4.2%, which is R174.49!

Cape Town prices have peaked to R4,280.67 in line with Joburg and Durban prices for a household's basket of food. 

The average Household Food Basket costs R4,317.56 in October 2021. 

Now imagine having to only receive R350 from the government to survive a pandemic. Again, impossible. 

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“Higher food prices, together with higher electricity prices and taxi fare hikes, are putting enormous pressure on the household purse and the family plate,” the PMBEJD group shared.

Take a look at this:

Food prices dbn cpt jhb
BusinessTech/Bloomberg

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Household Food Baskets over the past year (October 2020 to October 2021):

Food prices over the year
BusinessTech/Bloomberg

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The PMBEJD group shared that the higher electricity tariffs, including the additional costs of sourcing backup supplies amid load shedding, load reduction, and blackouts, will increase the cost of production, transport, and storage in 2022.

Is it too dark to say we are doomed? 

The cost of living is definitely high! 

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Main Image Courtesy: Supplied 

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