INSIDE YOUR POCKET: South African salaries are falling dramatically and inflation is not helping – new data shows.
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South Africa's average salary posted a dramatic fall in May, at a time when consumers are battling skyrocketing prices of food and fuel, the latest data from payments clearing house, BankServAfrica shows.
The country's average take-home pay in May plunged 6.7% to R14,696 when compared to the same period during the prior year and was one of the largest annual falls on record, BankServAfrica said. At the end of the previous month, South Africans took home R15,193 on average.
The country's average take-home pay in May plunged 6.7% to R14,696 when compared to the same period during the prior year and was one of the largest annual falls on record, BankServAfrica said. At the end of the previous month, South Africans took home R15,193 on average.
