They Say Our Currency Has Recovered In South Africa
But Consumers Will Have to Ignore the Excitement as they will just Keep on Paying the New Inflated Prices
The South African currency went into a hole over the past 4 months. This weak showing of the South African Rand has seen prices right across the board rise tremendously, from basic foods to luxury commodities. Now the good news is out we have recovered and everything is back to normal again as it was back in December 2015.
By 09:00 on Tuesday, the rand was trading at R14.38/$, which was last seen on December 6 – three days before President Jacob Zuma fired the respected finance minister Nhlanhla Nene, which sent the rand and markets tumbling to historic lows- News24
So what now does that mean when I go back to Pick ‘n Pay or Checkers my 6 Cokes for the week will cost R39,99 again and not R49,99 and my breakfast R76 and not R89? and so on and on and on. The answer is very simple NO. When I go do my next shopping trip with my Wife I am very sure with the Rand back in a better position I will see no reduction in prices anywhere I go, no matter how hard I look I am convinced I will not see any anywhere.
However, companies will show higher profits and share holders will be ecstatic as they make money out of nothing. For they successfully increased their prices when the Rand was in a bad shape, and so will they successfully keep those high prices now that the Rand is in a good shape.
And so the ……. get…… and the ……. get ……….. Nothing ever changes, but surely there must be an end to it somehow, someway , someday, someplace?