UASA Media Release: 23 April 2025
Statement by Abigail Moyo, spokesperson of the trade union UASA:
Stats SA’s lowest annual consumer price index (CPI) reading in five years came in well below expectations.
Dropping to 2.7% year on year in March, down from 3.2% in February, it is well below the South African Reserve Bank’s 3%-6% target range.
Prices increasing at a lower rate is excellent news for workers, as it will fuel the economy, allowing them to maintain better the purchasing power of their money, which in turn will encourage spending and investment.
A lower CPI may increase job opportunities if it is maintained for an extended period, as businesses can operate in a more predictable environment and afford to expand with new services and products.
Housing and utilities, food and non-alcoholic beverages, and restaurants and accommodation services positively influenced the CPI. Food inflation remained steady, with the most significant increases observed in cereal, fruits and nuts, fish and seafood, and vegetables.
UASA hopes that the inflation rate remains below the South African Reserve Bank’s target range of 3-6%, as this will positively impact unchanged interest rates throughout the year. Additionally, UASA hopes that the current international tariff war will not diminish the hopes of workers for lower interest rates and improved employment rates.
We urge businesses and stakeholders to consider workers’ financial challenges when pricing goods and services. Consumers’ needs must be a top priority.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162 .