inflation Archives - Page 2 of 3

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

Local

South African Reserve Bank’s repo rate decision awaited amid economic uncertainties

By Lee-Yandra Paulsen The South African Reserve Bank's Monetary Policy Committee is poised to make a crucial announcement regarding potential changes to the repo rate, with analysts and economists closely watching the economic indicators that might influence their decision. The deliberations are fuelled by a mix of economic factors, including volatile fuel prices and surging food costs, which appear to signal a need for a rate increase. However, the concurrent […]

20 September 2023

Local

Food Basket prices for May

By Lee-Yandra Paulsen South Africa is experiencing a cost-of-living crisis, with skyrocketing food and fuel prices, as well as severe rate hikes, forcing households to make tough decisions. Programme Coordinator at the Pietermaritzburg Economic Justice & Dignity Group, Mervyn Abrahams spoke to VOC Breakfast on Friday about the Household Affordability Index in terms of the food basket for May. “The food basket for the working class now stands at R5,071. […]

2 June 2023

Local

Repo rate up by 50 basis points

By Aneeqa du Plessis After much anticipation, The South African Reserve Bank (SARB) has increased the repo rate by another whopping 50 basis points to 7.75%. Commenting on the hike, SA Federation of Trade Unions (SAFTU) said it opposed the latest interest rate hike, as it will have an adverse impact on the living standards of workers and have a devastating blow to already ailed small businesses. The prime borrowing […]

31 March 2023

Local

August’s CPI figures decrease to 7.6%

LOCAL The country’s annual Consumer Price Index (CPI) for the month of August decreased to 7.6% from 7.8% in July 2022. Statistics South Africa says month-on-month CPI increased to 0.2%. It says the main contributors to inflation were food and non-alcoholic beverages, housing, utilities and transport. Food and non-alcoholic beverages increased by 11.3% year-on-year and contributed 1.9 percentage points to the total CPI annual rate of 7.6%. Housing and utilities […]

21 September 2022

Local

Interest rate hike beckons: Here are the issues facing Reserve Bank team

LOCAL The fastest inflation of Lesetja Kganyago’s almost eight-year tenure means it’s not a question of if the central bank governor will raise interest rates on Thursday, but by how much. Economists and traders aren’t ruling out the prospect that the SA Reserve Bank may lift the repurchase rate to 5.5% from 4.75% in what would be the biggest hike since September 2002. It’s already raised the benchmark by a […]

21 July 2022

Local

Zimbabwe’s inflation doubles in two months to 191%

Zimbabwe's annual inflation rate quickened to 191.6 percent in June, more than doubling the consumer price increases of two months ago, official statistics showed Saturday. Inflation which was at 96.4 percent in April, crept up to nearly 200 percent as prices of cooking oil and bread are leaping higher as a result of Russia's invasion of Ukraine. Rising prices revive memories of hyperinflation seen more than a decade ago when […]

26 June 2022

inflation

Download our new app

Download
our new app