Household budgets are being stretched to the limit, with food prices continuing to climb from already intolerable levels. Prices of staples like maize meal and samp are almost 30% more expensive than a year ago.
Meanwhile, many households are battling to afford their home loan and other debt repayments after aggressive rate hikes of 475 basis points since November 2021.
News24 asked Capetonians on the streets of the Mother City how they have been coping with these financial pressures.
Many reported that they have cut down on fast food and entertainment, particularly going out to watch movies. Some office workers reported that instead of buying ready-made meals, they are packing their own lunches. They have also resorted to using public transport – or car-pooling – to save on transport costs.