Cost of living crisis continues while government fails to respond
22 March 2023
Note to editors: Please find attached soundbite by Dr Dion George MP.
The latest inflation statistics underscore the severe cost of living crisis facing South African households. A year-on-year inflation rate of 7% has been reported, which is a significant increase from the previous month and exceeds the target range established by the South African Reserve Bank (SARB).
A closer examination of these figures reveals the extent of the crisis. Transportation costs have risen by 9.9%, with fuel prices experiencing a 10.6% increase.
Food prices have seen a staggering 14% hike, with the cost of bread, a fundamental food item, surging by 20.5% within the year.