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Shopping basket back to 2007 prices
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Staff Reporter November 25 2009 at 02:52PM |
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Submit your comment The recession is technically over - but economists and consumer groups are warning that this shouldn't prompt a spending spree over the festive season. Economists agree that inflation will continue to decrease into the new year, but have cautioned against spending sprees this festive season, adding that electricity and fuel hikes will probably counter the good news. Adenaan Hardien, the chief economist with Cadiz Asset Management, said: "Consumer spending will still be in a recession. We think the worst is over, but things will remain subdued." Thami Bolani of the National Consumer Forum said that food prices would climb as fuel prices rose. Although the recession was over, consumers' problems were far from over. "More than one million people have lost their jobs, there is no indication they will get their jobs back," he said. "It will be a bleak Christmas for them with very little to celebrate. People must spend carefully this festive season. They should resolve debt and start laying the foundation." Business Unity South Africa (Busa) said consumer confidence would remain low and urged consumers to use this time to cut back on debt. Busa's deputy CEO, Raymond Parsons, said: "It's a useful building block. Consumers should spend wisely and wind down indebtedness. Next year will be a better year, supported by the World Cup. But, this isn't going to transform the situation for the average consumer. Be prudent, and get value for money this festive season."
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Showing page 1 of 3 comment pages, 25 total comments
10 Weeks ago Anonymous wrote :
Doesnt help when we still earning the same salary for 18 months. The government needs to make annual increases compulsory for us - not only for them.
10 Weeks ago Di.S wrote :
What rubbish! It's clear that the supermarkets keep the "weekly shopping basket" item prices down to use as a marketing ploy! I have often seen P'n'P do exactly that! The reality is way different.
RGP is is also correct about the mass of certain products for - e.g. you may think that bacon on promotion is a bargain but most suppliers have reduced the pack size down from 250g to 200g. Ouma rusks have done the same thing to their rusk packs....something that my 13yr old picked up!
With the current Rand exchange rate I have been waiting for certain imported goods prices to come down, strange how quickly these items increase in price when the rand is weak but stay the same when it strengthens!
RGP is is also correct about the mass of certain products for - e.g. you may think that bacon on promotion is a bargain but most suppliers have reduced the pack size down from 250g to 200g. Ouma rusks have done the same thing to their rusk packs....something that my 13yr old picked up!
With the current Rand exchange rate I have been waiting for certain imported goods prices to come down, strange how quickly these items increase in price when the rand is weak but stay the same when it strengthens!
10 Weeks ago Skint wrote :
Telling us that we are paying less means little if we dont see the decreases at the till points. Is this a ploy to get us back into the stores?? They should start treating consumers with respect, how daft do they think we are? Scandalous!
10 Weeks ago J J wrote :
Please! the story is wrong. Stats says prices increased at a lower rate (6%), not decrease. Let the reporter take the challenge to name one item that has decrease in price.
10 Weeks ago J J wrote :
No, this paper is telling lies. Stat SA is right, figures have not come down, but increased at a lower rate 6% unlike +12% figures of past month. Again; no price has reduced, all prices of food have increased at lower rate. Will are still screwed.
May the reporter take the challenge to name one product that has decreased in price?
May the reporter take the challenge to name one product that has decreased in price?
10 Weeks ago Angry Angry wrote :
If those people are economists than I rather suggest a reform in the educational system. Economy should not be based upon dreams, but present fact that people can verify in the shops. Or Leave us alone in the struggle against anger.
10 Weeks ago who is the idiot. ? wrote :
bullsh1t - guess who is now the cartels paying.
10 Weeks ago JD wrote :
Please can you publish the list of items making up the basket, together with the 2007 and 2009 prices per item. I find the claim very difficult to believe.
10 Weeks ago Anonymous wrote :
Where the Feck do these people dream up this stuff!? Obviously they have been taking to the department which churn out the crime stats...
I am keeping my cash firmly in my pocket this year, & so should the rest of you. We are being taken for a ride by these corporate food cartels & parastatal's so buckle up & be prepared.
I am keeping my cash firmly in my pocket this year, & so should the rest of you. We are being taken for a ride by these corporate food cartels & parastatal's so buckle up & be prepared.
10 Weeks ago RGP wrote :
Check the mass of the contents of your purchases. Many have decreased by 20-25%, but the price either remains or has actually increased. The manufacturers claim the reduced mass is to negate price increases, but the price increases anyway."When" normality returns, do you honestly think the manufacturers are going to return the contents to their original sizes??
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