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Related Topics |
Category: Prices and inflation
Date: 21 June 2019
Date: 21 June 2019
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We take a look at data supplied by Statistics South Africa and compare the average price per 500 gram box of rusks per province as well as look at the inflation rate of average rusks prices per province from May 2018 to May 2019. Is the average price per 500 gram box of rusks in various provinces similar across South Africa? And is the rate of inflation of rusks different across the various provinces of South Africa?
Note all data from Statistics South Africa |
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Average milk price per province for May 2019
Now that winter is in full swing we know a lot of people wake up with a warm cup of coffee or tea and a rusk to get their day going, or to end off the day. But what does the average box of rusks cost in South Africa and what is the average price paid per box of rusks across South Africa's various provinces? The bar chart below shows the average price per 500 gram box of rusks per province in South Africa for the month of May 2019, as measured by Statistics South Africa in the Consumer Price Index (CPI) data.
From the bar chart it is clear that a 500 gram box of rusks was cheapest in North West at R30.13 a box while it was most expensive in KwaZulu-Natal with a 500 gram box of rusks setting those living in KwaZulu-Natal back R39.49. That is a significant difference between the average price paid in KwaZulu-Natal and the North West. With a 500 gram box of rusks costing on average 31% more in KwaZulu-Natal than what it costs in the North West. Our question would be why? What leads to the price of rusks being so vastly different between these two provinces?
The summary below shows the average price per province, sorted from highest price paid per 500 gram box of rusks to lowest price paid:
Looking at average prices is always interesting but what about the inflation rate of the average prices over the last year? By how much has the average price of a 500 gram box of rusks increased or decreased over the course of the last 12 months? The summary below shows the inflation rate for the average price of a 500 gram box of rusks over the last year, sorted from lowest inflation rate to highest.
So the North West showed the lowest inflation rate in the average price of 500 gram box of rusks with the average price actually declining by -7.06% from May 2018 to May 2019. But on the opposite end of the spectrum Mpumalanga saw the average price of 500 gram box of rusks increasing by 14.24% from May 2018 to May 2019. So why would prices for rusks decline by 7% over the course of a year on one province in South Africa, while in another the average price of a 500 gram box of rusks increased by a whopping 14.24% (almost triple the current official inflation rate)?
So when sipping on your coffee or tea this morning and enjoying your Ouma rusks in the North West, sit back and smile and know that per 500 gram box you are paying 30% less than your fellow countrymen living in KwaZulu-Natal.
The summary below shows the average price per province, sorted from highest price paid per 500 gram box of rusks to lowest price paid:
- KwaZulu-Natal: R39.49
- Northern Cape: R37.28
- Gauteng: R36.23
- Mpumalanga: R35.13
- Western Cape: R34.49
- Free State: R34.24
- Limpopo: R34.24
- Eastern Cape: R33.74
- North West: R30.13
Looking at average prices is always interesting but what about the inflation rate of the average prices over the last year? By how much has the average price of a 500 gram box of rusks increased or decreased over the course of the last 12 months? The summary below shows the inflation rate for the average price of a 500 gram box of rusks over the last year, sorted from lowest inflation rate to highest.
- North West: -7.06%
- Eastern Cape: -0.65%
- Gauteng 5.47%
- Limpopo: 6.83%
- KwaZulu-Natal: 7.66%
- Northern Cape: 7.71%
- Free State: 9.60%
- Western Cape: 11.69%
- Mpumalanga: 14.24%
So the North West showed the lowest inflation rate in the average price of 500 gram box of rusks with the average price actually declining by -7.06% from May 2018 to May 2019. But on the opposite end of the spectrum Mpumalanga saw the average price of 500 gram box of rusks increasing by 14.24% from May 2018 to May 2019. So why would prices for rusks decline by 7% over the course of a year on one province in South Africa, while in another the average price of a 500 gram box of rusks increased by a whopping 14.24% (almost triple the current official inflation rate)?
So when sipping on your coffee or tea this morning and enjoying your Ouma rusks in the North West, sit back and smile and know that per 500 gram box you are paying 30% less than your fellow countrymen living in KwaZulu-Natal.