Economic group bemoans 11% hike in cost of food basket
The Pietermaritzburg Economic Justice and Dignity Group says households are under huge financial pressure as the rising cost of living is outstripping consumers' income.
Inflation has hit South African pockets, as we have seen an increase in the cost of food, transport and electricity.
The group says the cost of a basket of food has increased by 11% from October last year to October this year.
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Programme co-ordinator Mervyn Abrahams says salaries are not going up to match the cost of living increases.
"We have seen roughly about a 10% increase on electricity costs, about a 7% increase in transport costs and we have seen spiralling interest rate increases which, in fact, filters down the system into the informal sector.
"This means that South Africans consumers have got poorer and at the same time are getting less value for money than they did about a year ago."
