With food prices on the rise, here is a look at the increase over a few years in the cost of household basics such as white bread, brown bread and full cream milk.
THE “Big Four” – fuel and transport; electricity; food; and interest rates – have continued to have an impact on the pockets of consumers. And none more so than the rising cost of food.
Data from the Household Affordability Index by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) shows that core foods – such as bread and milk – contribute 55% of the total cost of the Household Food Basket, and these foods must be purchased regardless of price increases.
With inflation, interest rates and fuel prices on the rise it is expected that food prices will also increase and this will have a major impact on the wallets of South African consumers.
We have already seen some of these core foods go up by a few rands within a year – hitting everyone, and the poorest of the poor the most.
There have been many stories of consumers not having money to purchase meat products or choosing to go with cheaper brands so they can save money.
Below we track just how much the cost has risen of household basics such as white bread, brown bread and full cream milk. For instance, the cost of a loaf of white bread went from about R13.10 in October 2020 to end at about R16.18 last month.
Mervyn Abrahams, the programme co-ordinator for PMBEJD, said that households are under immense pressure financially due to rising costs.
According to Abrahams, food is not high on the list in households and instead it follows transport, debt servicing and electricity.
“With rising costs for transport, electricity and food there is less food in the shopping trolley,” Abrahams said.
Consumers can stop their monthly food costs from biting into their income with these three tips:
– In your monthly budget, set aside money that will be used to purchase groceries. Don’t be tempted to spend extra money.
– Stretch your cash by making use of loyalty programmes that offer discounts or special offers for certain items.
– Get your groceries delivered to your door with online shopping to prevent yourself from being tempted by the impulse buys at the checkout point.
