IMPROVING LIVES THROUGH DATA ECOSYSTEMS

You might celebrate World Chocolate Day today (7 July) by sitting back and feasting on your favourite slab of sugary goodness. At Stats SA, we love our chocolate. But we also love data and all things statistical. So, to honour today, we’ve teased out a few facts about the price of chocolate that you, as a chocoholic, may find interesting.

Stats SA has already delved deep into the data to give you insight into the price behaviour of beer and cake. Now, we turn our attention to an 80-gram slab of chocolate.

Ready for the bad news? The average price of an 80-gram slab has risen by 39% over the last two years. You would have paid an average price of R9,52 for a slab in May 2014. Now, in May 2016, a slab would have set you back R13,27.

Our humble 80-gram slab has risen in price faster than sugar, sweets and dessert products in general (+21%), meat (+12%), bread and cereals (+19%), fruit (+16%), vegetables (+20%) and hot beverages (+23%)¹.

In a previous story, we had a look at how the average prices for cake, chocolate and ice cream have changed over time. The updated chart below shows how quickly the average price of an 80-gram slab has risen. So, if chocolate is your favourite, it might be a good idea to consider switching over to something else to satisfy your sweet tooth.

Geography also matters. The average price of a slab in May 2016 was highest in Mpumalanga. If you live in the Eastern Cape, then you can rejoice. On average, an 80-gram slab is cheapest in that province.

The key word to keep in mind when interpreting these prices is average. Every month, price collectors from Stats SA visit retail outlets around the country to record thousands of prices for consumer items, including different types of chocolate². So, the prices mentioned above are not necessarily the exact prices that you will see in the store, but are averages of prices recorded for 80-gram slabs across the country or in a particular province.

Thus, if you plan to celebrate World Chocolate Day today, reflect on the fact that you now have a little more insight into this much-loved confectionery.

¹ Note that prices are also captured for a variety of other chocolate types and sizes. These prices might not behave in the same manner as the average price of an 80-gram slab.

² Stats SA uses price data to calculate monthly inflation figures. Download the latest Consumer Price Index (CPI) release here.