Neil Roets, CEO of Debt Rescue, has cautioned that the slow pace of interest rate reductions is worsening the debt crisis for millions of South Africans.
“Statistics reflect that the inflation rate remained below the midpoint of the South African Reserve Bank’s (SARB) inflation range of 3% to 6% for the fifth consecutive month in December 2024, and that it has stayed within the range for the last 19 months,” Roets said.
However, he said that this does not translate into relief for consumers. “Simply put, this means that the cost of living is increasing at a slower pace, however, this has no bearing on consumers right now, with the exorbitant prices for most foods and other living costs continuing to put unbearable financial strain on households.”
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