If you think the cost of living has increased, you are correct. The average South African salary in Q4 of 2021 had increased on the previous year by 3.9%. The inflation rate increase alone, however, in 2021 was 4.1%. Petrol increased in December 2021 by 42% YoY, affecting all other goods. The South African youth, who are 64% unemployed, are particularly hard hit, with those who are employed earning only a median salary of R4 000-R4 999 per month.
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Fact-a-Day
June 15, 2022
