All data is delayed
Loading...
See More

Inflation steady at 5.6%

Dec 12 2012 10:24
Reuters
Johannesburg - South Africa's headline consumer inflation steadied at 5.6% year-on-year in November from October, in line with market expectations.

Statistics South Africa said inflation braked to 0.2% on a month-on-month basis from 0.6% in October.

The rand firmed to R8.6570/$ at 10:13, from R8.6645 before the data was released at 10:00.

The South African Reserve Bank (Sarb) cut interest rates for the first time in 20 months in July partly because of softer-than-expected inflation prints.

It left rates unchanged in the two meetings since, saying the risks to the inflation outlook were more or less balanced, with higher food and oil prices posing the main upside risk.

Statistics South Africa has changed the weightings in its consumer price index basket to give a slightly lower weighting to food, while petrol and electricity weightings will rise.

The new weights will apply from January 2013.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

inflation

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...