Salary increases slightly outpace inflation for sixth consecutive month
Salaries of formally employed South Africans showed their sixth consecutive month of growing slightly faster than inflation in August, the monthly BankservAfrica disposable salaries index released on Thursday showed.Without taking inflation into account, the average monthly South African salary after tax and other deductions came to R14,106 in August, 6% higher than in the same month in 2016.Adjusted for inflation, the pay increase was a more modest 1.1%. This marked a slowdown from July’s 2.5% and June’s 1.3%.Although inflation-adjusted salaries have recouped some of their losses following nine consecutive months of declines between June 2016 and February 2017, South Africans on average are still earning 2.2% less than in October 2015.BankservAfrica also does an index for pensioners, which showed a nominal average of R6,808 for August, which was 0.9% higher than the previous year adjusted for inflation."At least the positive increase for both sets of people will help the economy in...
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