South African household spending reached R3-trillion in 2022/’23
Statistics South Africa (Stats SA) has reported that total household consumption expenditure between November 2022 and November 2023 reached R3 trillion. The 2022/2023 income and expenditure survey indicated that the top four spending categories—housing, food, transport, and insurance—accounted for nearly 76% of all household expenditure. According to Stats SA’s Rodney Khumalo, households spent an average of R143,069 in 2023, with male-headed households contributing to over 60% of this total. Furthermore, […]