2018 has been a horrid year for South African consumers battling record high fuel prices, a technical recession and a Vat increase that has hiked up the cost of virtually everything.
But, according to Statistics SA, it’s not all doom and gloom. You might be surprised to learn that there are a few items that are actually cheaper than they were last year.
In an ideal world, consumers should expect telecommunications costs to come down in the coming months considering the fact that the cost of telecoms equipment has declined by 8,5% since the beginning of the year.
READ MORE: How to save money at the grocery store
Healthy conscious consumers will be happy to hear that the price of fruit recorded the second-highest decline since January, coming down 8,1%.
For those with a sweet tooth, you’ll be relieved to hear that the price of sugar, sweets and desserts have dropped by 4,8%, while those renovating or building a house will be relieved to discover that the cost of furnishings, floor coverings and textiles decreased by 1,8%.
The graph below outlines the remaining goods and services that have become cheaper this year.
On the flip side, consumers have had to bear the brunt of hefty price increases – the most notable being the petrol price hike. Stats SA’s fuel price index indicates that the price of fuel rose by a whopping 11,4% between January and August this year (this figure doesn’t even take the latest monster fuel hike into consideration so imagine how much higher this percentage actually is).
READ MORE: How to beat the petrol price hike blues
Consumers are also paying a considerable amount more for water related services which have increased by 10,9% since the beginning of the year.
Here’s a list of the items that have seen the biggest price increase so far this year: