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Cost of living rises to new highs

Out of reach: Consumers are experiencing the highest increase in the cost of living since 2008 PIC: MORERI SEJAKGOMO
Out of reach: Consumers are experiencing the highest increase in the cost of living since 2008 PIC: MORERI SEJAKGOMO

The rate of increase in the prices of goods and services reached 14.3% in July from 12.7% in June, the highest level since November 2008, as fuel and food prices continued to escalate.

At its latest level, inflation is under a percentage point shy of the all-time high of 15.1% recorded in November 2008.

Inflation for the first seven months of the year has averaged 11.39%, compared to 11.41% in the same period in 2008, the year in which consumers suffered the highest average inflation ever.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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