Research forecasts a 12.5% average annual growth in household wealth.
South African household expenditure increased 24.6% between 2005/2006 and 2010/2011, Stats South Africa said.
Our high household debt-to-income ratio means that price increases across the board could keep us in a position of financial vulnerability.
Spending in South Africa’s economy increased in the first quarter of 2010, the central bank said on Thursday in its June quarterly bulletin.
South Africa’s household spending grew by an annualised 1,4% in the fourth quarter of 2009.