Cosatu applauds decrease in CPI, calls for repo rate to be reduced

By Akani Nkuna

The sharp reduction in Consumer Price Index (CPI) from 4.4% to 3.8% has been welcomed by the Congress of SA Trade Unions, which says it will alleviate the financial burdens of many South Africans.

“This will provide invaluable comfort to millions of workers, help them to heal their financial wounds, take care of their families and pay their debts,” Cosatu parliamentary coordinator Matthew Parks said on Wednesday.

Stats SA published the CPI update earlier in the day, saying that there had been notable improvements in certain areas of the economy.

“This is the lowest inflation… since March 2021, when the rate was 3.2%. On average, prices increased by 0.1% between August 2024 and September 2024,” said Stats SA.

Transport inflation has decreased slightly with fuel prices dropping for a fourth successive month on an average of 9.0% lower than a year ago. Despite the decrease in fuel,