Good morning. Today we’re covering the national shutdown strikes that attracted little more than a few thousand protestors, the consumer inflation rate has hit a 13-year high driven by price increases, and the new iPhone is set to make its debut next month.
SA largely ignores union calls for mass stayaway — but concerns ‘fair and factual’, admits government – Daily Maverick
It was meant to be a day when South Africa’s economy came to a halt and workers took to the streets in their millions to demand that the government intervene in the cost of living crisis that’s been exacerbated by rising electricity costs, food prices and inflation.
But in reality, no more than a few thousand turned out to protest in the nation’s major cities. Trade unions Cosatu and Saftu along with their affiliate organisations had vowed to bring the economy to a halt. While there is no South African that can claim immunity from rising costs, the trade unions largely failed to mobilise workers en masse. Read more here.
Consumer inflation hits 13-year high – Business Day (for subscribers)
As if to drive home the protestor’s point, on the same day of the strike South Africa’s consumer inflation rate hit a 13-year high printing at 7.8% in July, up from 7.4% in June. The acceleration has been driven mainly by food and fuel prices.
The consumer price index (CPI) reading, remains outside of the Reserve Bank’s target range of between 3% and 6% but remains within the market predictions of 14 economists, reports Business Day.
Stats SA said price increases for bread and cereals, oils and fats, and fuel and electricity made a “notable impact on July’s reading.” Read more here.
Save the date! Apple sends invites for September 7 event, analysts expect new iPhones – Times LIVE
With the rise in costs all around, it’s unlikely many of us will have money for shiny new gadgets that’ll cost a pretty penny but keep your eyes out on September 7 when Apple is expected to unveil its new line of iPhones.
The event is about a week earlier than its usual annual iPhone unveiling with analysts predicting that if the company follows the same trend of shipping its new iPhones about a week and a half after the unveiling, the company would add an additional two weeks to its fourth-quarter sales. Read more here.
Here’s what else we’re reading today:
Business condemns Wednesday’s shutdown, highlighting its adverse impact on economy – SABC
Basic Income Grant would cost SA more than R374bn over 3 years, says researcher – EWN
Lobby group calls for Office of the Chief Justice to bin dodgy R225m IT tender – News24
‘Frupidity’ is a new word making the rounds inside Amazon – Business Insider
Traders start betting on SA rates stabilising in 2023 – Fin24
Sars executives reinstated to their previous positions – The Citizen
Limpopo Health MEC Dr Phophi Ramathuba’s xenophobic, dehumanising diatribe against Zimbabwean patient – Daily Maverick
Image Credit: Brad Sigal/Flickr
