blacks move into rich club
RESEARCH by the Bureau of Market Research shows that black households in the highest income group - R750000 plus a year - grew dramatically during the past decade.
The report, titled Household Income and Expenditure Patterns and Trends, 2007 - 2008 and compiled by ME Masemola and Professor H de J van Wyk, found that there were 13,39million households in South Africa last year with a combined annual income of about R1,53trillion compared with R1,37trillion in 2007.
More than half (51,5percent) of these were in the lowest income group of R0 - R50000, while 81percent of households in the highest income group - R750000 plus - were white, said the report.
But, the bureau pointed out: "The African population has shown marked gains with respect to the R50000 - R100000, R100000 - R300000 and R300000 - R500000 income groups.
"Evidently, one in six (16,8percent) African households migrated to this group between 2007 and last year," BMR said.
Breaking down the R1,52trillion spent by households last year, the researchers found that:
l 23percent was on food.
l 13percent on housing and electricity.
l 11percent on tax, and
l 53percent on items such as transport, medical costs, communication, furniture and household appliances. - I-Net Bridge