Durban - Trade union Uasa said the increase in the Consumer Price Index (CPI) is bad news for the South African public.
Uasa spokesperson Abigail Moyo said a StatsSA report revealed on Wednesday that the annual consumer price inflation was up to 7.1% in March 2023 from 7.0% in February 2023. She said while the increase was small, it would still have a significant impact.
“The consumer price index increased by 1.0% month-on-month in March 2023. The main contributors to the annual inflation rate were food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.”
Moyo added that along with that there was a recent repo rate hike by the South African Reserve Bank’s Monetary Policy Committee, which raised the repo rate to 7.75%, high fuel prices, and electricity price hikes.
“From July, city of Tshwane residents are expected to fork out 18% more for electricity and 9.2% more for water along with other metros. Workers are, again, expected to pay more for services that are not delivered amid power outages and water scarcity.”
Moyo said workers bend over backwards to make ends meet without any relief in sight.
“How can we expect people to stay calm in an economy where they are always likely to pay more while disposable incomes shrink.”
Uasa called on the government, stakeholders, municipalities and business owners to consider the cost of living for workers.
“Making consumers pay for government mistakes, lack of infrastructure maintenance, and corruption will only lead to dissatisfaction among workers and the unemployed. I encourage South African workers to carefully consider household and other spending plans before opening their wallets. Challenging times lie ahead, and cool heads are needed.”