GOOD Statement by Brett Herron,
GOOD Secretary-General
20 November 2024
The GOOD Party welcomes the cooling of inflation as announced by Stats SA.
The consumer price index (CPI) increased by 2,8% in the 12 months to October 2024. This represents a sharp decline from 3,8% recorded in September.
Stats SA noted that October’s print is the lowest since June 2020 when the rate was 2,2%.
It is a welcome relief to all South Africans, especially as this places the inflation rate below the Reserve Bank’s target range of 3-6%.
As GOOD, we call on the SA Reserve Bank Monetary Policy Committee to grant extra relief to cash-indebted consumers and reduce the Repo rate.
Consumers continue to face increasingly difficult decisions around spending with the rising cost of living, leaving most South Africans struggling for their basic survival.
Our people have suffered the crippling effects of an under-performing economy for far over a decade.
A significant interest rate cut will contribute to stimulating the economy.
South Africans urgently need an economy that will create long-term jobs, meaningfully address the high levels of inequality and poverty, and finally see inclusive growth.
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