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Podcast: WorldWide Markets with Simon Brown
Episode: Data confirms South African consumers are losing purchasing power (#541)
Description: Simon Shares I have been talking about a cracking (broken?) consumer for a few months now. Two recent surveys show exactly this data. BankservAfrica's five-year review of Take-home Pay and Private Pensions in South Africa for February 2018 – February 2023 "The average nominal salary Take-home Pay Index, increased from R12,573 to R15,438, +22.8%." But CPI was 26.6% and take home pay had kept track until last year. Debt Busters Debt Index | Q1 2023 survey "Nominal incomes were 2% higher than 2016 levels, however when cumulative inflation growth of 40% is factored in for the same seven-year period, consumers' purchasing power diminished by 38% over this pe...