Guiding consumers since 2009

Inflation now at 6.9%

By Staff Writer

Inflation has been falling and is at 6.9% as of the 29th of July 2009, this is 1.1% down on the previous figures. In other data unemployment is up, less credit is being extended and GDP is expected to contract. Scary news but at least the inflation beast appears to be coming under control. With the economy not expected to look up anytime soon planning for the future becomes imperative, to see you through the lean times ahead. Inflation was influenced by these major factors:

 

  • Food decreased by 0.3%
  • Transport increased by 0.5%
  • Gauteng inflation lowest in country at 6.4%

 

With an ongoing investigation into the supermarkets perhaps we will see a reduction in food price inflation. Food prices affect everybody but have the most impact on the poor. When food price inflation is taken into account it is easy to see why people are prepared to strike. If you can't feed your family as much as last year due to high inflation people become desperate and take more militant action than they perhaps would otherwise. Food price inflation is slowing but still not as quickly as everything else.

Many historians link the start of the French Revolution to bread prices. The bread cartels have been fined, but bread is still expensive and pap, our staple, is also expensive. Inflation is the measure of price increases and with a faltering economy food security becomes more important. Planning a budget and sticking to it can help you to make sure that you have enough money left to feed yourself and your family come the last week of the month. These inflation figures are encouraging even if it is only for a little bit of light at the end of the tunnel.

Recent Articles

Featured You may be paying for credit life cover – and you’re entitled to use it

When you signed your credit agreement, you may have also signed up for credit life cover. Since this forms part of the credit agreement itself, many people are unaware that they have this insurance.

Work from home, have meetings at restaurants – the new normal?

With companies moving from static office spaces to working remotely, meetings have predominantly been held online. However, some companies have turned their attention to meeting at variable locations, such as restaurants or hotel conference rooms.

Is a home loan a great savings tool?

There are many saving and investment options available to consumers. What you decide to use is dependent on your circumstances. But should you make your home loan your choice of a savings vehicle and how does that exactly work?

Everything you should know about tax auto assessment

In 2019, the South African Revenue Service (SARS) launched a system, which was dubbed an “auto assessment”, to assist taxpayers with their annual tax returns. But what does this system entail, and how will it impact you?

Deals

Earn up to 50% of your tax return submission fee back in eBucks

Price: Available on request
When: Daily
Where: Nationwide

Be part of the Belly Of The Beast Weekday Spring Special Lunch

Price: R350
When: From 23 September 2020
Where: Cape Town

Tony’s Roma Breakfast Special

Price: R39
When: Daily
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions