The ability to feed one’s family has gone up again and looks like it will continue to rise given the rand’s volatility and the rise in inflation.
Data revealed on Wednesday showed that the average price of a household food basket was over R5 000 in May.
This was according to the May 2023 Household Affordability Index compiled by the Pietermaritzburg Economic Justice and Dignity (PMBEJD) group.
The Household Affordability Index tracks food price data from 47 supermarkets and 32 butcheries in Johannesburg, Durban, Cape Town, Pietermaritzburg, Mtubatuba and Springbok.
In May 2023, the average cost of the Household Food Basket is R5071.59.
Month-on-month: The average cost of the Household Food Basket increased by R47.64, from R5 023.95 in April 2023.
Year-on-year: The average cost of the Household Food Basket increased by R461.70 (10.0%), from R4 609.89 in May 2022 to R5 071.59.
The following foods increased in price
Foods which increased in price in May 2023 by 5% or more include: onions (12%), stock cubes (5%), carrots (12%), butternut (14%), and bananas (5%).
Foods which increased in price in May 2023 by 2% or more include: maize meal (3%), salt (4%), curry powder (3%), soup (3%), tea (3%), full cream milk (3%), eggs (3%), chicken feet (2%), chicken livers (4%), spinach (4%), peanut butter (3%), and polony (2%).
Statistics South Africa’s latest Consumer Price Index for April 2023 shows that headline inflation was 6.8%, and for the lowest expenditure quintiles 1-3, it is 11.3%, 10.6% and 9.2% respectively.
CPI Food inflation was 14.3% (for CPI Food and NAB – non-alcoholic beverages – it was 13.9%; we use the figure excluding non-alcoholic beverages). Statistics SA’s Producer Price Index for April 2023 shows agriculture was 3.7%.
In should be noted that in May, food baskets decreased in Cape Town and Pietermaritzburg, but increased in Joburg, Durban, Springbok and Mtubatuba.
A breakdown:
- The Joburg basket increased by R43.80 (0.9%) month-on-month, and increased by R438.36 (9.5%) year-on-year, to R5 064.87 in May 2023.
- The Durban basket increased by R159.92 (3.3%) month-on-month, and increased by R330.99 (7.0%) year-on-year, to R5 040.59 in May 2023.
- The Cape Town basket decreased by R64.85 (-1.3%) month-on-month, and increased by R580.48 (13,1%) year-on-year, to R5 025.00 in May 2023.
- The Springbok basket increased by R153.95 (2.9%) month-on-month, and increased by R564.10 (11.4%) year-on-year, to R5 491.46 in May 2023.
- The Pietermaritzburg basket decreased by R27.56 (-0.6%) month-on-month, and increased by R478.03 (10.7%) year-on-year, to R4 941.98 in May 2023.
- The Mtubatuba basket increased by R93.92 (1.8%) month-on-month, and increased by R546.41 (11,6%) year-on-year, to R5 237.73 in May 2023.
BUSINESS REPORT