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Consumers to dig deeper into pockets as electrity tariff, fuel price hikes hit

Experts are warning that the tough economic times may lead to more uncertainty about the country's investment market.

Picture: sxc.hu

JOHANNESBURG - South Africans are waking up to a higher electricity tariff, with experts warning that the tough economic times may lead to more uncertainty about the country's investment market.

National Energy Regulator of South Africa approved a hike of just over 9.4%, which comes into effect on Monday.

Consumers will have to dig deeper into their pockets as the price of petrol is also set to go up this week.

From Wednesday, all grades of petrol will increase up to R1.34 per litre and R0.81 and R0.82 more for diesel.

Economist Goolam Balim said: “The elections will be defining and it is considered to be a market-friendly outcome. It will perhaps usher some rand recovery and with it, we can perhaps in the aftermath of the elections, foresee some easing in the fuel price.”