COST-OF-LIVING CRISIS: The battle of the wallet – shrinking income versus rising food prices

What’s more telling, is the comparison when holding up the national minimum wage against basic household expenses, in light of the new food basket that the Pietermaritzburg Economic Justice & Dignity group used in its Household Affordability Index.

This dire scenario is not confined to those earning the national minimum wage, but is reflected across all income bands. The food and household cost escalations apply across the board.for more news, analysis and investigations While the average nominal salary has stabilised somewhat in the past two months – moving up 2.4% to R15,063 in September 2022 – it has also become evident that salaries have lagged behind the average headline inflation in 2022.

“The average salaried person’s finances are likely to remain strained, as reflected in the 8.3% y/y decline in the real average salary recorded in the BankservAfrica Take-Home Pay Index in September. For the six months to end June, Massmart’s wholesale division showed a 5% growth in total sales compared with the same period last year, and against a decline in sales at stores such as Game and Builders.

This is what Ramaphosa and his thugs wanted to achieve, citizens backs against the wall with a begging bowl.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Unions mull tough govt strike - but festive season and tough finances loom large | Fin24Unions spent Monday gauging the appetite for a full-blown strike among their members, with the Cosatu-bloc of public service unions set to announce their plans on Wednesday. | News24_Business _Business They are joining the National Shutdown!
Source: News24 - 🏆 4. / 80 Read more »

Sundowns Ladies expect tough semi against Simba, says coach TshabalalaAfter dismantling TP Mazembe 4-0 to end top of Group B, defending champions Mamelodi Sundowns Ladies expect a tough Caf Women’s Champions League semifinal against Simba Queens on Wednesday, coach Jerry Tshabalala said.
Source: TimesLIVE - 🏆 28. / 59 Read more »

England can always count on Stokes in tough moments, says WoodEngland can rely on all-rounder Ben Stokes in difficult situations despite some questions being raised after his recent run of form, fast bowler Mark Wood said ahead of their Twenty20 World Cup semifinal against India.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Ukraine war: Ukraine doubles down on tough stance on talks with RussiaKYIV, Nov 8 (Reuters) - Ukraine doubled down on its tough stance on negotiations with Russia on Tuesday, saying talks could only resume once the Kremlin relinquishes all Ukrainian territory and that Kyiv would fight on even if it is 'stabbed in the back' by its allies.
Source: dailymaverick - 🏆 3. / 84 Read more »

Consumers feel pinch of rising cost of debt servicingConsumers are taking home 33% less today in real terms than they did in 2016 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

Moving from coal towards renewables is in SA’s best interest, says World BankMoving from coal towards renewables is in SA’s best interest, says World Bank - SA’s three transitions will cost R8.5-trillion per year between now and 2050 Yho 😳 so much money! We need energy that is dependable. Not sun or wind reliant. In the short term, fossil fuel and in the long term, gas or nuclear. Lets stop bluffing ourselves. Wind and Sun will never provide a baseload of kw. It can be used as an adjunct to the baseload. Just build a nuclear power plant ffs
Source: mailandguardian - 🏆 2. / 92 Read more »