South Africa: Salaries Crept Up, but Buying Power Just Hit a Two-Year Low

Funda ngesiZuluCompiled by Anita Dangazele The average salary rose to R21,598 in June, but once you account for rising prices, that money buys less than it has in about two years. Electricity, water and other municipal costs are going up even faster than overall inflation, adding extra pressure on top of higher fuel prices. Getting a slightly bigger number on your payslip doesn't help much if that money buys less than it used to. That's what's happening to South African salary earners right now. Keep up with the latest headlines on WhatsApp | LinkedIn New data that tracks around 2.1 million salaried workers found the average take-home pay rose to R21,598 in June, slightly up from May. But once you work out what that money can actually buy, after accounting for rising prices, it's really on