Is it just us or are groceries a little more expensive than usual? Introducing: inflation, the dark side of low interest rates. It’s what happens when the price of things rises because of our increased purchasing power, thanks to all that extra money in our pockets. (We’ve explained it previously here.) And although more money is flowing through the economy, it’s worth less. So how have the prices of items in your shopping cart changed?
Here’s a list from Statistics SA:
◾️The price of white bread and super maize meal is up by 8% and 3.5%, respectively.
◾️The price of milk, eggs and cheese products increased by 6.4% from last year February.
◾️A two-litre carton of fresh full-cream milk will cost you an average of R29.27, up from R28.03 last year.
◾️Half a dozen eggs cost an average of R19.03, compared to R15.87 in February 2020.
◾️The price of vegetables, however, decreased by 0.7%.
So it’s not just you. Use the extra cash you’re saving from lower loan repayments and spend wisely. 💸