• SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

  • Platinum handshake

    Officials who try to do what's right risk far more than blessed wrongdoers, says Solly Moeng.

All data is delayed
Loading...
See More

Inflation hits highest level for year

Jan 20 2016 10:40

Cape Town - South Africa's annual consumer price inflation increased to 5.2% in December 2015, in line with expectations and 4 percentage points higher than November's 4.8% rise. It was the highest rate for the year as consumers battle with increased food and fuel prices and interest rate hikes.

On average, prices rose by 0.3% between November 2015 and December 2015, Statistics SA announced on Wednesday.

In December the CPI for goods increased by 5.3% year-on-year (3.8% in November), and the CPI for services increased by 5.7% year-on-year (5.7% in November).

The rand held steady at around R16.83/$ from R16.88 before the data's release.

The SA Reserve Bank (Sarb) increased the repo rate by 25 basis points at its last monetary policy committee meeting, citing inflationary pressures as a reason for hiking interest rates. South Africa has seen a total increase of 125 basis points in interest rates since the Sarb started its tightening cycle 23 months ago.

Inflation is however still under control and within the Sarb's targeting range of 3% - 6%.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

interest rates  |  inflation  |  sa economy  |  cpi

 
 
 
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

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

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...