BizForums
   

FAQ Calendar Search Today's Posts Mark Forums Read
Go Back   BizForums > Africa > Southern Africa
Home Viewpoints and Forecasting Forums UK Ireland South Africa
.  
Southern Africa South Africa specific news feed


CPI rises to 6.1 percent in April


Reply
 
Thread Tools Display Modes
Old 05-21-2014, 04:22 PM   #1
newsroom
Administrator
 
newsroom's Avatar
 
Join Date: Jun 2008
Posts: 1,155
newsroom is on a distinguished road
Sa CPI rises to 6.1 percent in April

The Consumer Price Index (CPI) in April rose to 6.1% - breaching the Reserve Bank’s inflation target range.

“Headline CPI annual inflation rate in April 2014 was 6.1%. This rate was 0.1 of a percentage point higher than the corresponding annual rate of 6% in March 2014,” Statistics South Africa (Stats SA) said on Wednesday.

According to Stats SA, prices rose by 0.5 % on average between March and April 2014.

The food and non-alcoholic beverages index rose by 1.3% between March and April, while the transport index increased by 0.4% between March and April.

The miscellaneous goods and services index increased by 0.4% between March and April 2014. The annual rate increased to 6.6% in April 2014 from 6.5% in March 2014.

The Reserve Bank targets inflation between three and six percent.

Nedbank economists had expected Wednesday’s figure to come in at 6.2%. The bank expects inflation to continue to rise.

“We expect inflation to rise further in the short term and to remain above the Reserve Bank's 6% upper target range throughout this year and into the first half of 2015 due to a fragile rand and higher food prices,” said the economists.

The Reserve Bank’s Monetary Policy Committee (MPC) will make its decision with regards to interest rates, public tomorrow afternoon.

“The inflation outlook remains poor in the short term. The Reserve Bank has made it clear that we are in a rate-hiking cycle, but the extent and speed will be data dependent. We do not expect the Reserve Bank to raise rates at this Thursday's meeting, given that the rand has strengthened substantially since the bank's last meeting. However, given the need to balance growth prospects with higher inflation we anticipate that rates will rise by 25 basis points at two of the following four meetings,” said Nedbank.

At its last meeting in March, the MPC kept rates unchanged at 5.5% per annum. – SAnews.gov.za
newsroom is offline   Reply With Quote
Reply

Go Back  BizForums > Africa > Southern Africa

Tags
south africa

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 08:08 PM.

Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
© 2008 - 2015 TheBizSense All Rights Reserved