GOOD Statement by Brett Herron,
GOOD Secretary-General & Member of Parliament
18 October 2023
The GOOD Party is concerned about the ever-increasing prices of food when millions of South Africans are already going hungry.
Stats SA announced today that the annual consumer price inflation has increased to 5,4% in September 2023, up from 4,8% in August. While it falls just within the Reserve Bank’s target range of 3-6%, this means little for the immense pressure felt by struggling households.
Reinforcing the cost-of-living crisis, general food prices saw an increase of 8.1% over the past year at a time when millions already live on income or social grants far below the food poverty line of R760 per month.
Unemployment in South Africa is sitting at 32.6%, and many of these households are trying to survive off the R350 Social Relief of Distress grant.
Add this to the increasing prices for fuel and healthcare, and simply surviving in South Africa is becoming reserved for a privileged few.
This is simply unsustainable and therefore GOOD maintains that the implementation of a Basic Income Grant is our single most important need in South Africa.
Despite ongoing claims to the contrary, South Africa can afford this, but it requires a government that is willing to prioritise restructuring its budget to ensure that its people’s most basic needs are put first.
Finally, the inflationary pressures could trigger another interest rate hike, placing further pressure on hard-pressed consumers, spending, and the underperforming economy as a whole.
Media Enquiries:
Brett Herron, GOOD Secretary-General & Member of Parliament
Cell: 082 518 3264
Email: bretth@forgood.org.za
Janke Tolmay, GOOD Media Manager
Cell: 073 367 1223
Email: janke@forgood.org.za