Average salary increases in South Africa are failing to keep pace with inflation
The average nominal salary measured in the BankservAfrica Take-home Pay Index rose to 15,438 rand in February 2023, from 12,573 rand five years
earlier. The 22.8% increase lagged a 26.6% rise in the consumer price index. The number of salaries paid in South Africa rose by just 455,140 over the period.
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