Share

SA wage increases are beating inflation, but it's still not enough - survey

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
0:00
play article
Subscribers can listen to this article
Pay increases are beating CPI but not the real cost of living, says Remchannel. (Serhii Hryshchyshen/Getty)
Pay increases are beating CPI but not the real cost of living, says Remchannel. (Serhii Hryshchyshen/Getty)

Remchannel, which forms part of Old Mutual's employee remuneration and benefit solutions, says average wage increases are beating the consumer price index (CPI), though not necessarily keeping pace with a sharp rise in essentials, like food.

Its April 2024 salary and wage survey, which is published biannually in April/May and October/November, shows average pay increases granted so far this year at local companies averaged 6.09%, higher than average CPI (5.45%) and anticipated increases (5.85%).

The Remchannel survey covered 55 participants employing approximately 417 000 people across the unlisted (60%), JSE-listed (25.5%), government and quasi-government (7.25%), and dual- or offshore-listed (7.25%) sectors.  

Read this for free
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
Try our free 14-day trial
Already a subscriber? Sign in
heading
description
username
Show Comments ()
Rand - Dollar
18.51
+0.3%
Rand - Pound
23.23
-0.0%
Rand - Euro
19.94
-0.1%
Rand - Aus dollar
12.22
+0.1%
Rand - Yen
0.12
+0.1%
Platinum
966.10
-0.0%
Palladium
950.00
-0.1%
Gold
2,301.30
0.0%
Silver
26.55
0.0%
Brent Crude
82.96
-0.9%
Top 40
70,300
+0.5%
All Share
76,428
+0.5%
Resource 10
60,246
-0.2%
Industrial 25
107,200
+1.3%
Financial 15
16,554
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders