UASA Media Release: 19 March 2025
Statement by Abigail Moyo, spokesperson of the trade union UASA:
The annual consumer price inflation (CPI) remained unchanged from January’s level of 3.2% in February.
Among other factors contributing to the inflation rate, including housing and utilities, food and non-alcoholic beverages, restaurants and accommodation services, fuel prices also played a significant role as they were relatively cheaper than a year ago, helping with the inflation rate.
However, the hike in maize meal and samp prizes over the reported current period by Stats SA is not a positive outlook for consumers and farmers. Although a natural factor like drought hitting the maize harvest region was a challenge, the inflationary increase in staple food items also concerns affordability, especially for consumers in low-income households.
The reported inflation data comes a day ahead of the SA Reserve Bank’s monetary policy committee’s decision on interest rates. With the proposed 0.5% VAT hike looming ahead, we hope this will not lead to gloomy financial challenges for workers as food baskets will increase in price.
UASA hopes the inflation rate can remain between the South African Reserve Bank’s target range of 3-6%. A contained inflation rate will have a positive effect on keeping interest rates unchanged tomorrow and throughout the year.
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.