Kempton Park resident Louis Steenkamp is finding shopping harder and more expensive during the pandemic, as some items are out of stock and food prices are higher. Picture: Brian Sokutu

Consumers have been hit with a double whammy … not only have salaries been cut or jobs lost as a result of the coronavirus lockdown, the prices of everything have suddenly skyrocketed.

Hit by a high unemployment rate, a stagnant economy and the impact of the deadly Covid-19 pandemic, South African consumers are battling to keep up with a spike in food prices. The financial impact of Covid-19 is set to have a long-term negative effect on consumers – likely to remain for many months to come, according to the latest online survey on 850 South Africans, conducted by a research company Consulta. Due to the financial squeeze, 60% of those surveyed expected to spend less on food cooked away from home “which gives an indication that take-out and full-service restaurants are...

Article Source: https://citizen.co.za/business/business-news/2302185/businesses-fatten-the-price-curve-while-consumers-struggle/