High debt wiping out purchasing power of middle class
High interest rates, inflation and stagnant salaries are eroding consumers’ disposable income, study shows
08 May 2024 - 05:00
Individuals earning more than R35,000 a month are bearing the brunt of diminishing disposable incomes, with many drowning in debt.
This is revealed in the first-quarter DebtBusters debt index, which found that a combination of high interest rates and inflation, as well as stagnant salaries due to lack of economic growth, are eroding consumers’ disposable income...
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