The DA on Wednesday said the release of August’s Consumer Price Index(CPI) data by Statistics SA (StatsSA) indicates that inflation continues to ease.
DA finance spokesperson Wendy Alexander said that in August, the rate of inflation stood at 4.4%, a 0.2% decrease from July.
“That said, consumers continue to struggle with the high cost of living. While this decrease brings some optimism, the South African Reserve Bank's Monetary Policy Committee meets this week to discuss possible adjustments to the repo rate.”
Alexander added that they recognise that significant reforms were still required to move the economy towards substantive growth.
“In the lead-up to next month's Medium-Term Budget Policy Statement (MTBPS), we will outline the budgetary proposals we expect, including cost-of-living relief, financial discipline and limiting waste, boosting competitiveness through key structural reforms, and implementing policies that stimulate economic growth.”
Alexander said there were early signs that the actions of GNU ministers were starting to boost confidence in the economy.
“The DA remains cautiously optimistic. While we welcome these developments, we cannot rest on them alone. In five years, South Africa’s success will be measured by two straightforward criteria: increased economic growth and decreased unemployment.”
The Mercury