If retailers’ updates are anything to go by, your salary is just not going as far as you would want. Christmas trading updates from grocery retailers give yet another indication of how empty consumer wallets are after filling up trolleys.

At first glance, updates by Shoprite, Woolworths and Spar for the market show revenue growth. However, most of it is not coming from employed people buying more, but rather from food and goods costing more — which is not real growth at all...

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