- A report has found that several staple food items are more expensive in South Africa than in these European countries
- This is as a result of soaring food costs in South Africa
- Increases to fuel taxes are likely to drive these prices up even further
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Groceries in South Africa reportedly cost more than those in Paris.
This comes after a previous report found that food in South Africa was also pricier than the same products in the United Kingdom.
This is an example of the country's rising costs of living, driven by increasing taxes and inflation.
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For example, milk on average cost almost R5 more in South Africa than the UK, and bread costs over R3 more. In total, 10 food items identified as staples are more expensive in South Africa, according to the South African.
Investigations have proven that South African food prices have been rising rapidly over the last several years. The price of eggs increased by by 23% from 2017 to 2018, while the average price of potatoes increased by more than 30% in the same period.
This trend is likely to continue, especially as Tito Mboweni's budget speech left VAT at its increased position of 15%.
In response to the rising costs of staple foods, the finance minister expanded the list of VAT-exempt items, adding new products like cake flour and white bread flour.
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Another likely contributor to further increases in the cost of food is the increase to petrol and diesel taxes. This is because manufacturers will have up prices to offset the loss to profits that result from spending more on transport costs.
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Source: Briefly News