UASA Media Release: 17 September 2025
Statement by Abigail Moyo, spokesperson of the trade union UASA:
UASA welcomes the drop in the Consumer Price Index (CPI) from 3.5% in July to 3.3% in August.
The decrease is encouraging news for consumers, as it may prompt the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) to lower interest rates in its upcoming meeting.
The decline in interest rates is primarily attributed to the easing of food price inflation and the continued reduction in fuel prices recently observed.
Despite ongoing economic challenges that contribute to high living costs for consumers, we remain optimistic that a positive outlook for consumers will emerge before the year ends.
The recent positive growth recorded in the Gross Domestic Product (GDP), despite the impact of US import tariffs and Eskom electricity tariffs implemented in April, along with a persistently high unemployment rate and numerous company closures, highlights the resilience of our economy in the face of significant disruptions.
While the inflation rate is still slightly above the SARB’s target range of 3%, we are hopeful that the MPC will take into account the favourable trends in GDP, the inflation rate, and decreasing fuel prices, all of which benefit consumer spending, when considering a potential interest rate cut.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162.