UASA Media Release: 19 June 2024
Statement by Abigail Moyo, spokesperson of the trade union UASA:
Stats SA announced that inflation, as measured by the annual change in the consumer price index (CPI), remained unchanged at 5.2% in May, the same as in April.
Food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services were the main contributors to the annual inflation rate. With food and other essential needs being the primary drivers of the CPI, consumers continue to bear the brunt as living costs remain challenging for many.
With the previously recorded decrease in the price of petrol in June and a further decrease in fuel prices expected in July, UASA hopes that this will result in some reduced pressure on food inflation and basic services. Workers are struggling due to the direct effect of inflation on their shrinking disposable income and affordability, which is a cause for concern.
Following President Cyril Ramaphosa’s inauguration earlier today, UASA urges government to prioritise the needs of consumers and align their relief measures with the standards set by the South African Reserve Bank (SARB). This alignment is crucial to ensure that relief and a sustained reduction in inflation and interest rates are not just a hope but a reality for the many poverty-stricken citizens who remain hopeful for a better future.
We hope that the new government, policymakers, and stakeholders will pay attention to the pressing economic challenges, including high inflation and the cost of living. As President Ramaphosa embarks on his second term, UASA urges him to keep the needs of fellow South Africans, who are still grappling with these economic challenges, at the forefront of his agenda.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162.