Chris Becker, economist at ETM Analytics, recently wrote a blog comparing price inflation of a Steers burger and petrol over the last 10 years.
The price of a Steers burger rose by 250% in 10 years, a compounded rate of 13% a year, trumping the petrol price hike over that period (see infographic).
Finweek looked at the price increases of other goods and services.
See the enlarged image.
*For more business and finance news, get Finweek here.
What
I would like to see is a comparison of the products above with regards to
salary increase in the various sectors i.e. manufacturing, chemical, motor,
banking, government. In this comparison we can see if salaries have kept up to
these increases, which I really doubt.
Cool suggestion! Will have a chat to the team.
According to StatsSA CPI increased 76.4% over 10 years, averaging 5.8% per year. So the economy is probably shrinking.
100% to 200% is a 2 to 3 fold increase, which is 7.2% to 11.6% per year, compared to the average official inflation rate of 6.7% per year the last 10 years. It places a question mark over economic growth statistics.
ok sorry, on closer look it does not include inflation , but the calcs are very confusing nevertheless
you should take inflation into account though
You should explain whether this takes inflation into account (I assume it does). Most people are not mathematically inclined enough to sense whether inflation has been taken into account or not and then they don’t get the gist of the matter.
You can’t say that these increases are staggering if you don’t give us something against which we can compare it.