Thousands of families battling to make ends meet
South Africa’s workers just cannot afford the renewed threat of rising food prices. The country’s low earners are hardest hit by food inflation as they are already spending the highest percentage of their income on food.
According to the August Food Price Monitor report of the National Agricultural Marketing Council, the annual increase of 7,4% takes the index to the highest level since July 2009.
Thousands of families are battling to make ends meet in addition to rising food prices and also having to deal with the ongoing increases in electricity prices and high levels of household debt, while the sword of unemployment hangs over the heads of many with the economy slowing down and a possible double-dip recession predicted by economists.
UASA is particularly concerned about the effect of the slow economy on the well-being of the poorest of the poor to whom this will prove yet another harsh economic blow.