AUDIO: Tough times ahead for consumers
Consumers should brace themselves for a tough period ahead with the anticipated petrol price and municipal rates increases set to come into effect on Wednesday 1 July.
Efficient Group economist, Francois Stofberg says the average household will be forking out on average R400 extra a month.
“Even households that do not pay property rates will see an average increase of R300 on their accounts,” Stofberg says.
Lower income groups are expected to be most affected by looming price hikes.
Consumers may also need to cut back considerably to cope, Stofberg warns.
City of Joburg residents should expect municipal increases of 12.19% for electricity, 14% for water, 6% for rates and 8% for refuse removal.
(File Photo: Gallo Images)