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<\/a><\/p>\nTaking into account historic inflation, 10 years ago, South Africans\u00a0would have paid almost half of what it costs today for a R1,000 basket of consumer goods.<\/p>\n
Twenty years ago it would have cost R292 to fill a\u00a0trolley, compared with the mere R5 of 80 years ago.<\/p>\n
Looking ahead, taking the average inflation rates in the respective categories over the past few decades, Old Mutual painted a picture of how much consumers could expect to pay for a vehicle, a year of tuition at a private school and the cost of a hospital stay 10 and 25 years from now.<\/p>\n Most importantly, however, Old Mutual warned that inflation will have a massively detrimental affect on your retirement savings.<\/p>\n “If your retirement income does not at least grow in line with inflation<\/strong>, you will either experience a decline in your standard of living or you will run out of money,” the group said.<\/p>\n At a 6% inflation rate, for example, a fixed monthly retirement income of R10,000 a month today will decline in real terms to about R1,700 a month after 30 years.<\/p>\n<\/a><\/p>\n<\/a><\/p>\n