A wage settlement survey predicts salary hikes to outpace inflation in 2024

VAAL TRIANGLE - Employees can expect some relief this year, as salary hikes are expected to outstrip inflation after two-years of falling short. This is according to Nedbank’s latest state of the economy report. BusinessTech reports salary increases are projected to average 6.9%. At the same time, inflation is likely to average 5%, resulting in a 1.9% real increase, providing some respite for households stretched thin financially. Despite the projected salary growth, challenges such as job losses and high-interest rates may limit the financial relief for South African households.

PHOTO: (Supplied)