Whilst we welcome what appears to be a greater commitment by Government to the provision of relief to households, workers, and small businesses, it still feels to us that we are trying to pull blood out of a stone.
The May 2021 Household Affordability Index, which tracks food price data from 44 supermarkets and 30 butcheries, shows that the average cost of the Household Food Basket is R4137,11.
Women cannot absorb the food price increases. Women tell us they now only buy the critical foods. Women tell us they respond to hikes in food prices by shopping around a lot more to seek out the cheapest prices before they commit to a purchase.
We call on the Reserve Bank to monitor much more stringently inflationary increases on food, electricity and transport and their impact on low-income households and the broader economy; and act decisively when such increases threaten the affordability levels of low-income households and damage the economy.
2021 will see a deepening household affordability crisis with core household expenses like transport, electricity, and food, increasing way above inflation, whilst wage increases will continue to remain low.
The average cost of the Household Food Basket increased through September 2020 to November 2020; prices then dipped slightly in December 2020 and have increased again in January 2021.
Food prices are rising as we approach the Festive Season.
Food price data over the past three months shows that the average cost of the Household Food Basket has increased by R161,89 or 4,2%, taking the total cost of the basket in November to R4 018,22.
We commemorate World Food Day 2020 in the midst of a pandemic, which requires proper nutrition to build strong and resilient immune systems to resist contracting Covid19 and recover.
