Inflation slides to lowest level in eight years

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

South Africa Headlines News

The last time it hit levels this low was in February 2011, according to Stats SA, with falling fuel prices being a key driver of the slow down

Lynley DonnellyConsumer inflation slid lower in October, reaching its lowest level in eight years, Stats SA said on Wednesday.3.7% in October, down from 4.1% in September. The last time it hit levels this low was in February 2011, the agency said. The reading was below the median expectations of 3.9%, as measured by Bloomberg.

The level of the slow down could bolster further arguments for an interest-rate cut. Headline inflation has been sitting at or below the 4.5% midpoint of the SA Reserve Bank’s target range for all of 2019. The majority of economists polled by Bloomberg are expecting the Bank to keep the repo rate on hold at 6.5%.

Moody’s is the last ratings agency to class SA debt at investment grade. In announcing the outlook change Moody’s effectively gave the government until February’s budget to improve SA’s fiscal position or face a downgrade.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CPI dropped in October to its lowest level in over eight years – Stats SAStats SA says the annual consumer price inflation dropped to 3.7% in October 2019 from a 4.1% registered in September.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Annual consumer inflation slows to eight-year lowOn a month-on-month basis, price growth was 0.0%, versus 0.3% in the previous month.
Source: ewnupdates - 🏆 30. / 53 Read more »

European car sales accelerate to highest October level in a decadeEuropean car sales hit their highest October level since 2009, an industry body said on Tuesday, as the sector recovers from a stall last year over tighter pollution regulations.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Farmer ordered to pay R40 000 for neglecting dogs | Cape TimesAlmost three years after the NSPCA’s special investigations unit inspected a farm in Protea Glen, Johannesburg, and found 32 dogs in dire conditions, the case has concluded with the farm owner ordered to pay R40 000. CapeTimesSA
Source: IOL - 🏆 46. / 51 Read more »

WATCH | Fire engulfs shops at Mahikeng mallEight shops were engulfed by flames at a shopping centre at Mahikeng, North West, on Monday
Source: TimesLIVE - 🏆 28. / 59 Read more »

WATCH | Fire engulfs shops at Mahikeng mallEight shops were engulfed by flames at a shopping centre in Mahikeng, North West, on Monday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »