GOOD Statement by Brett Herron,
GOOD Secretary-General & Member of Parliament
23 August 2023
The GOOD Party joins the nation in breathing a sigh of relief that inflation has cooled to its lowest level in two years.
According to Stats SA, annual consumer inflation slumped to 4.7% in July down from 5.4% in June.
This is the lowest reading since July 2021.
Inflation has finally begun to steady within the SA Reserve Bank target range of 3-6%.
GOOD hopes this will bring much-needed interest rate relief and that consumers will soon start to feel the financial pressure ease.
South Africa is facing rampant unemployment sitting at 32.6%.
Many households are forced to survive off only the R350 Social Relief of Distress grant.
Sadly figures revealed by Stats SA show municipal tariffs continue to skyrocket.
“Households are paying 14.5% more for electricity. Water tariffs increased by 9.6% and property rates by 2.9%.”
GOOD urges municipalities to refrain from profiteering off municipal services and find ways to structure their budgets to act in the best interest of their residents.
Media Enquiries:
Brett Herron, GOOD Secretary-General & Member of Parliament
Cell: 082 518 3264
Email: bretth@forgood.org.za
Samantha Jackson, GOOD Acting Media Manager
Cell: 083 550 9875
Email: media@forgood.org.za