Annual headline inflation rate fell to 4.7% in July from 5.4% in June.
Tag: wage negotiation
The annual inflation rate decreased from 6.3% in May 2023 to 5.4% in June 2023. The Consumer Price Index (CPI) increased by 0.2% month-on-month in June 2023.
Our simplified version of inflation data in South Africa for trade union negotiators.
This is a vital resource for trade union negotiators that want to enter bargaining processes as informed role players.
Bargaining Benchmarks is a resource for trade union negotiators in South Africa.
Annual consumer inflation fell to 6.8% in April from 7.1% in March. This is the lowest reading since May 2022.
Sharing knowledge about successful negotiations and agreements can strengthen the overall position of workers and trade unions and lead to better outcomes for all.
Increases in the national minimum wage were above inflation from 2021 to 2023, resulting in real wage increases of 1.3% in 2021, 1% in 2022 and 2.6% in 2023. The National Minimum Wage Commission gazetted a medium-term target that requires increases above CPI for the lowest paid workers.
Inflation tells us something about the buying power of a worker. Effective negotiators need to ensure that workers get regular increases to maintain the buying power of their wages.
Annual consumer price inflation was 7,1% in March 2023, up from 7,0% in February 2023. The CPI increased by 1,0% month-on-month in March 2023.
Public sector workers will continue to have a hard time making ends meet. The increase is only 0.5% above the current rate of inflation.
A simplified version of the latest inflation data to support negotiators and the bargaining process of the trade union.
A simplified version of the latest inflation data to support negotiators and the union’s bargaining process.
This report provides union negotiators with the benchmarks to enter bargaining processes as informed role players.
Benchmarks to help union negotiators enter negotiations as informed players.