Higher fuel prices to cause a surge in inflation
We can expect an increase in food prices and inflation brought on by the latest fuel price hike.
In the latest blow for consumers, petrol will increase by 52 cents a litre from Wednesday.
Diesel will rise by 76 cents a litre for the month of June.
Mike Schussler from economists.co.za says it spells nothing good for our wallets.
"For the average person out there who uses 140 litres of fuel a month, we're looking at a R70 a month increase. The diesel prices are going up quite steeply and this is where the inflation impact could come from in the longer term.
"This is because there will be a further increase in the diesel price later and that will also impact on the price of transport," he said.
(File photo)