inflation Archives - Voice of the Cape

FEDSAS concerned as rising school fees strain families amidst economic pressures

The Federation of Governing Bodies of South Africa (Fedsas) reported that fee-paying schools are facing significant financial strain due to rising school fees, which is putting added pressure on ailing families. According to Fedsas, independent schools are expected to grant exemptions totaling between R7.4 billion - R10.8 billion to help struggling parents. Fedsas’ Riaan van der Bergh emphasized that as fee increases outpace inflation, it is crucial for schools to […]

10 January 2025

Local

Economists cautiously optimistic about South Africa’s 2025 growth

Economists remain cautiously optimistic about South Africa’s economic growth prospects for the coming year. However, they warn that global and geopolitical events, particularly in the United States, could pose significant challenges. Economist Dawie Roodt shared his insights, highlighting some positive trends. “There are a couple of pluses that I am fairly sure of. One is that inflation is relatively low. Inflation is currently well below the midpoint of the Reserve […]

2 January 2025

Local

Reserve bank cuts repo rate amid declining inflation

The South African Reserve Bank’s Monetary Policy Committee (MPC) announced a 25-basis-point reduction in the repo rate to 7.75% on Thursday. This follows data released on Wednesday, which showed inflation falling to 2.8% in October, below the bank’s target range of 3% to 6%. As a result, the prime lending rate now stands at 11.25%. Economist Dawie Roodt noted that the rate cut was widely anticipated, particularly after the positive […]

22 November 2024

Local

SARB expected to cut Interest rates amid lower inflation, says economist

By Ragheema Mclean Economists and analysts widely anticipate the South African Reserve Bank (SARB) will lower interest rates by 25 basis points this afternoon (19 September), but some believe a more significant cut could be possible. Recent data from Statistics South Africa shows inflation fell to 4.6% year-on-year in July, down from 5.1% in June. This marks the lowest inflation rate since April 2021. The drop is mainly attributed to […]

19 September 2024

Uncategorized

Fuel price set to drop in September

By Rachel Mohamed The Automobile Association has reported that based on unaudited mid-month data from the Central Energy Fund (CEF), petrol, diesel, and illuminating paraffin will be cheaper in September than at any other time this year. Speaking on VOC’s News Beat show on Tuesday, Automobile Association spokesperson Eleanor Mavimbela stated that two factors come into play when talking about the over-recovery that will result in a decrease in fuel […]

23 August 2024

Local

Slow inflation drop offers little relief for struggling households

By Lee-Yandra Paulsen As consumer inflation slightly dropped last week, we want to understand what the month of May looked like by checking in with those tracking the Household Affordability Index report. Pietermaritzburg Economic Justice & Dignity Group Programme Coordinator, Mervyn Abrahams, spoke to VOC Breakfast on Monday about these developments. “What we are seeing since April is a slight decline in inflationary pressures. For instance, the Consumer Price Index […]

27 May 2024

Local

Inflation moderation brings hope for interest rate cuts

By Lee-Yandra Paulsen Annual consumer inflation continued its downward trend in April, as the consumer price index (CPI) recorded a year-on-year increase of 5.2%, down from 5.3% in March and 5.6% in February. Statistics South Africa reported that while general food inflation has slowed, the prices of vegetables, fruit, and hot beverages have remained elevated. Specifically, inflation for food and non-alcoholic beverages eased to 4.7% in April from 5.1% in […]

23 May 2024

Local

Relief for South African pockets as Reserve Bank holds interest rates

By Ragheema Mclean The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) has kept the repo rate unchanged for a third straight meeting. This means that the interest rates that consumers will pay on their credit will remain unchanged for now. This decision, in tandem with economist forecasts, keeps the repo rate at 8.25%, with the prime lending rate at 11.75%, ensuring stability in the interest rates for consumers, […]

24 November 2023

Local

The Reserve Bank’s Monetary Policy Committee decided to keep the repo rate at 8.25% despite slightly higher inflation at 4.8%.

By Kouthar Sambo The Reserve Bank's Monetary Policy Committee decided to keep the repo rate at 8.25% despite slightly higher inflation at 4.8%. This comes after three members of the committee voted to keep rates steady while two members were in favour of a 25-basis point hike. Speaking on VOC's Drive Time show today, Head of Research and Portfolio Manager of the Camissa Islamic Funds and Economist Abdul Aziz Davids […]

21 September 2023

inflation

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