Economist Dawie Roodt said he was certain that most employers will not be increasing salaries, as they will be taking strain themselves.
“In fact, some will be forced to retrench staff, to cut down on the salary bill.”
Roodt urged households to draw up a financial plan to help achieve their goals without borrowing and making impulsive decisions.
“Write down what you intend to achieve with your income. Stick with the budget.”