What R100 Could Buy in 1980 vs Today: South Africans Share Their Thoughts

• In the early 1980s, the year-on-year inflation rate was 13.4%, which is a sharp difference compared to today
• Meat is the food group that South Africans spend the most on, at 33% of the cost of a total basket
• Sta-soft was the only product in this comparison that increased above the inflation rate over 44 years

Inflation has increased by almost 4,000% since 1980. Using a consumer price index, we see what R100 could buy you in 1980 versus today.

Business Tech calculated the equivalent buying power of R100 between 1980 and 2024.

South Africans have shared their frustration with rocketing prices in 2024, but we will investigate whether these increases align with inflation.

A combination of grocery goods and an average price were chosen from the four major grocery stores in South Africa: Checkers, Spar, Pick’ n Pay and Woolworths.

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All South Africans love their meat, as the meat group in our trolleys accounts for a third of the total price. So, maybe instead of our lamb chops at R209.74/kg, buying other food groups could save us money on groceries.

The average price of food items between 1980 and 2024

How the cost goods is calculated

Statistics South Africa has recorded price inflation over many years.

A consumer price index (CPI) shows the change in the inflation rate and records price changes in SA.

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The CPI headline index in 1980 was 3.2, whereas it’s a huge 126.4 in 2024.

Public responses to the comparison

Bøitumelø Glen Leshiba gives an example of R100 in Shoprite:

"I was so surprised today at shoprite when spending R100 buying only 30 large eggs and a loaf of Albany bread 😂 The cost of living is very high. Xem yoh."

Haha Mlunjwa gives his experience living in 1984 compared to the 2000s:

"In 1984, I went to the mielie fields. It was after harvest. I picked up the little that was left. I took it home. My mother used it to brew traditional beer to sell to the locals. A litre of it cost R0.20c. I made R12. From that money, she bought me a blanket and school uniform. With the change, she bought a soccer ball. Fast forward to 2006, I bought my first bakkie. I filled it up with R300 and drove from East London to Lusikisiki, about 350kms. Our currency has lost its value."

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Tshepo Thys Magane did his calculations when applied to our local grant amount:

"I was checking the R370 grant value what it could have been in 1990, and it gave me R3 040 if not mistaken... R1k in 1987 could have bought items costing R12k today"

Andrew Pienaar explains the calculation and what it means:

"It is a point in time calculation - if means that if you divide everything by 4000, you will get more or less what it cost in 1980 in RSA. A ZAR's buying power is a fraction today than it was in 1980. It is good to think in these terms and not get distracted in terms of how all fiat currency is being eroded away. This is great in terms of debt, it is how governments reduce their debt levels in absolute terms by eroding the citizens spending power and increasing taxes in real terms by not adjusting tax levels or exemption levels at all or by far less than the inflation rate - the value of money is effectively what the government and their institutions say it is."

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Justin Lee Nel talks about the cost of essential items:

"I'm more worried about how the Rand has dropped in value in the last 20 years. I mean a litre of fuel was R7.80 in 2004... I stand corrected but I'm sure not far off. Bread and milk was R20... It's now R50 or more. Don't even get me started on electricity and rent🤬"

Family of 4 spends more than R8K on monthly groceries

Briefly News previously reported that the rising cost of living in South Africa has left many citizens struggling to afford monthly groceries.

Mzansi has been vocal about the unbearable inflation and skyrocketing food prices. One family of four revealed that they spend approximately R8,000 monthly on groceries yet still have to supplement their shopping.

Source: Briefly News