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Economist Mike Schussler says low inflation is starting to affect the economy, as businesses such as retailers can't afford to increase prices even if their inputs go up.
The costs of bread and cereals rose by 8.5%.
This is slightly lower than the projections of analysts, and within the target range of between 3% and 6% set by the SA Reserve Bank.
Governor of the SA Reserve Bank Lesetja Kganyago announced the benchmark rate call at a media briefing in Pretoria on Thursday afternoon, following a three day meeting of the bank's Monetary Policy Committee.
Annual headline consumer price inflation for April has moderated to 4.4% Stats SA announced, a figure in line with the expectations of economists.
SA's annual headline consumer price index increased marginally to 4.1% in February from 4% in January, according to Stats SA.
November inflation increased 0.1 of a percentage point to 5.2%.
South Africa’s monetary policy stance remains accommodative and interest rates will need to increase to keep inflation within the target band if the central bank’s current forecasts play out, Reserve Bank Deputy Governor Francois Groepe said.
Consumer price inflation has increased to 5.1% in July, up from 4.6% in June, says Statistics SA.
CPI ticked up from 4.4% in May to 4.6% in June, which was slightly under the 4.8% expected by economists.
CPI, which measures changes in prices for a range of consumer products, was 3.7% in October,
Inflation for July eased to 4%. However, the SA Reserve Bank is likely to maintain a cautious stance before deciding to implement a rate cut, given the risk of a rating downgrade which still looms large.
This is mid-point within the target range of between 3% and 6% set by the SA Reserve Bank and in line with the expectations of economists.
Governor of the SA Reserve Bank Lesetja Kganyago will announce the benchmark rate call at a media briefing in Pretoria on Thursday afternoon, following a three day meeting of the bank's Monetary Policy Committee.
SA's annual headline consumer price index for March was 4.5%, according to Stats SA.
New consumer price index (CPI) data from StatsSA shows that fuel costs are officially 23.1% higher than a year ago. The good news: phones are getting cheaper fast, and package holidays are also dropping in price.
StatsSA has announced that annual consumer price inflation has come in at 5.1% for the month of October.
The biggest upside risk to SA's inflation outlook is the rand, particularly if recent weakness is sustained, say analysts commenting on the latest consumer inflation data.
There is a possible oversupply of residential properties in the country.
Fuel prices have been steadily increasing since April due to a combination of higher global oil prices, higher fuel taxes and a weakening rand.
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