Household income and expenditure are fundamental components of a country’s economic landscape, influencing everything from consumer behaviour and savings rates to economic growth and stability. Statistics South Africa recently published the Income & Expenditure Survey (IES) 2022/2023 (statistical release P0100). This statistical release focuses on the income, consumption and spending patterns of households at national, provincial and metropolitan levels. The results of IES are used to inform the adjustment of poverty and inequality profiles, income and expenditure patterns of households and the basket of goods and services required for the compilation of the consumer price index (CPI). The information presented in IES was collected from 19 940 households across the country over a 12-month period through a combination of diary and recall data collection methodology. With the diary method, participants recorded their income and expenditure in a diary as it happened. While with recall method, participants were asked to recall and report their expenditure from memory. The results show that in 2023, total annual household income by South African households amounted to R4,3 trillion. On average, the estimated household consumption expenditure per household in South Africa was R143 691. Households spent most of their income on housing, water, electricity, gas and other fuels (34,7%), followed by food and nonalcoholic beverages (16,3%), transport (15,3%) and insurance and financial services (9,3%). This month’s feature article is based on the Census 2022 provincial profile: Free State (Report No. 03-01-73), published by Statistics South Africa (Stats SA) on 27 June 2024. Look out for our monthly crossword puzzle and the solutions for November. Articles published in this issue are based on results of industry surveys conducted for November and December 2024.
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