inflation

Advertisement


Advertisement i




The constant rise in cost of living is a major concern for many South Africans. The cost of food, transportation and sustaining debt has risen so high that it has stirred up intense financial insecurity in most households.


Inflation is once again on the rise, despite hope that it might decrease and relieve some pressure on the wallets of South Africans, who are left frustrated with the unaffordable cost of living.


A recent report has revealed that hiring activity for most industries and employment sectors was significantly low over the past few months, reflecting a stagnant labour market across the country.


Despite inflation and the rising cost of living eating away at consumer’s pockets, many are hopeful that salary increases and bonuses are on the cards in 2023.


Consumers around the country are feeling the pinch in their wallets as consumer inflation accelerated to a 13 year record high. This results in consumers needing to spend more on the same products which they may not be able to afford.


With petrol prices expected to climb at the end of the month and a 9% increase in the price of electricity tariffs on the horizon, the cost of living in South Africa is growing 


The Consumer Price Index (CPI) is a monthly measurement where the price of a range of consumer products are measured. The difference in the price of a good is its inflation.


Motorists will be paying 75 cents more per litre of petrol from December 1 2021. 

Advertisement


Advertisement


Advertisement


Google News


Advertisement i




Advertisement m