GOOD Statement by Brett Herron,
GOOD Secretary General & Member Of Parliament
24 August 2022
The accelerating pace of inflation announced today by Statistics SA, the third consecutive month of steeply rising prices, is going to hit already struggling South Africans the hardest – with yet more pain expected.
The headline consumer-price index rose 7.8% from a year earlier, compared with June’s 7.4% increase, taking inflation to a level last seen 13 years ago, when it hit 8% in May 2009.
Economists fear that rising underlying price pressures, such as the costs of raw materials and logistics, may lead to further rates hikes, which will equate to more price increases.
Fish, meat, and vegetables prices have risen by around 9% over the past year. Bread has risen by about 14%, while essential fats and oils are up by about 40%. Tragically, families will have to ration the basic essentials required for healthy lives.
These facts make it increasingly urgent for the country to find the means to pay a Basic Income Grant.
The GOOD Party is in discussions with economic experts with a view to addressing the affordability of a Basic Income Grant through reprioritising the spending of money presently available to the State.
Fundamental choices must be made to create a just, equitable and sustainable society.
If South Africans were forced to choose, for example, between implementing a Basic Income Grant or maintaining the pomp and ceremony of three levels of government, with all the perks, there is no doubt which priority most good people would support.
Media Enquiries:
Brett Herron, GOOD Secretary General & Member Of Parliament
Cell: 062 401 4506
Email: bretth@forgood.org.za
Dewan de Swardt, GOOD Acting Media Manager Cell: 072 536 1476
Email: dewands@forgood.org.za