|Petrol price shock|
The steep rise in consumer goods may lead to further job losses
UASA expresses shock at yet another petrol price hike and its effect on workers
UASA is shocked after the announcement of yet another petrol price hike next Wednesday, 4 May 2011 - this time an additional 29c per ℓ, catapulting the price per litre to well over R10.
The South African worker has nowhere to hide from the soaring cost of living. The impact on the disposable income of the average South African household is frightening, especially those with breadwinners out of jobs. The millions who have to make use of public transport to get to work every day will feel the pinch more than ever.
The steep rise in consumer goods which is sure to follow may well lead to further job losses as employers are forced to cut costs and could have an adverse effect on inflation and jeopardize the South African Reserve Bank’s efforts to keep inflation within the set target range.