Consumers urged to watch their end-of-year spending
With Black Friday in full swing and the festive season around the corner, South Africans are being advised to keep an eye on their spending as consumers continue to feel the pressure of rising prices.
Figures released this week showed CPI climbed for the third consecutive month to 5.9% in October, from 5.4% the previous month.
Econometrix Chief Economist Azar Jammine says there's a need to keep the rising cost of living in mind when drawing up our budgets.
ALSO READ: Consumers urged to avoid in-store shopping this Black Friday
"There is no question that inflation is still quite high, and therefore lots of consumers will find that their salaries have not kept pace with inflation. As a consequence, they will feel it’s quite tight over the festive season.
"I think spending will be relatively subdued, which we have already been seeing for several months. I think people are still feeling the pinch"
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