9 months of salary pain comes to an end in South Africa

• Real net salaries rose for the first time in nine months, driven by a drop in inflation and fuel prices, ending the period of monthly salary pain in South Africa.
• Nominal net salaries increased 0.2% in July and 2.2% year‑on‑year, while real net salaries climbed 0.4% month‑on‑month, though year‑to‑date real salaries are still 2.1% below the previous year.
• The relief may be short‑lived as geopolitical tensions threaten to raise oil prices again, potentially eroding purchasing power and dampening consumer confidence and spending.