South African consumers faced a sharper increase in the cost of living in June than economists had expected, with annual inflation accelerating to 5% from 4.5% in May, reaching levels last seen in June 2024 as higher transport costs pushed prices higher.
We know that the inflation rate has climbed but do we really know what it means for our budget? Will we have to pay more for less?
We asked ChatGPT for a simplified breakdown; this is what it gave us!
Imagine you have R100 in your piggy bank to buy things like food, petrol, electricity and bus rides.
Last month, your R100 could buy a little more than it can now because prices went up faster in June than most people thought they would.
