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South Africans will feel the pinch in April: economists
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South African households are likely to start to feeling the pinch from surging petrol and paraffin prices, marked increases in excise duties on alcoholic beverages and tobacco products, and below-inflation increases in the monetary values of social grants.
Commenting on the latest FNB/BER consumer confidence index (CCI), chief economist at FNB Mamello Matikinca-Ngwenya said that these factors – coupled with the fact that the Social Relief of Distress grant and TERS programme are set to expire at the end of April – have the potential to deflate the confidence levels of less affluent consumers in the coming months.