A Committee of Ministers has been established to assess the impact that the conflict in Ukraine will have on food and fuel prices in South Africa as the cost of living increases.
President Cyril Ramaphosa announced on Thursday, 17 March while responding to oral questions before the National Assembly.
Ramaphosa said government is deeply concerned about the continued rise in prices, particularly arising from the ongoing conflict between Russia and Ukraine.
Ramaphosa said government is determined to take steps to cushion South Africans with regard to the various price pressures that they are facing.
“As recently as yesterday, we discussed it also in one of our Cabinet committees. We are aware that food prices are going to go up but not only for us, but for many other countries around the world,” Ramaphosa said.
South Africans are currently grappling with record fuel prices, taxes and levies as well as increases in basic household items.
According to the Pietermaritzburg Economic Justice & Dignity group (PMBEJD), as of February 2022, a food basket for the average South African household will cost you R4 355. This is up 8.9% from February 2021. In addition, over 20 essential items have increased in price.
“We have set up a committee of Ministers that is going to look at precisely what the impact of the conflict is going to have on us as South Africans when it comes to fuel, when it comes to food prices and all this is being given consideration. As a compassionate government, we will find a way of addressing this as well.”
“Our task now is to ensure that we remain agile and move quickly to cushion South Africans from the risk of higher inflation, to ensure that all are able to meet their basic needs, and to accelerate our economic recovery. This is the direction that we have chosen to take.”Cyril Ramaphosa