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Economist Dr Azar Jammine, says consumers, including those with fixed salaries, will have difficulty in the coming months affording basic necessities as a result of the inflationary pressures in South Africa.
The annual inflation rate in South Africa rose to 5.9% in March, from 5.7% – marking the eleventh consecutive month inflation has been higher than the midpoint of the South African Reserve Bank’s target range of 3 to 6%.
Main upward pressure came from transportation, food, and non-alcoholic beverages.
Jammine says consumers’ ability to spend has been eroded.
South African consumers in for some difficult times ahead as the cost of living rises:
