Household spending shrank 7,2% over eight years 1/5
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DURBAN - South African household consumption expenditure has decreased by 7,2% over the past eight years.
This is based on the income and expenditure survey released by Stats SA.
READ | Cost-of-living crisis | South Africans drop the bottle, pick up pens
Collectively, households spent an estimated 3-trillion rand between November 2022 and November 2023.
White households continue to lead in income and spending levels.
Stats SA says the latest data highlights the continuing inequalities across race and gender in South Africa.
To unpack this, Mervyn Abrahams from the Pietermaritzburg Economic Justice and Dignity Group spoke to eNCA.