• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION
Home Business

SA’s CPI comes in higher than the market expected

19 January 2022, 2:33 PM  |
SABC SABC |  @SABCNews
Shoppers browse in a Home Depot building supplies store while wearing masks to help slow the spread of coronavirus disease (COVID-19) in north St. Louis, Missouri, U.S. April 4, 2020.

Shoppers browse in a Home Depot building supplies store while wearing masks to help slow the spread of coronavirus disease (COVID-19) in north St. Louis, Missouri, U.S. April 4, 2020.

Image: Reuters

Shoppers browse in a Home Depot building supplies store while wearing masks to help slow the spread of coronavirus disease (COVID-19) in north St. Louis, Missouri, U.S. April 4, 2020.

Statistics South Africa has released the consumer price index (CPI) for December, which rose to 5.9 percent year-on-year, compared with 5.5 percent in November.

On a month-on-month basis, December’s CPI was also higher at 0.6 percent, compared with 0.5 percent in November.

The South African Reserve Bank has an inflation target range of 3 to 6 percent.

Interest rates

Earlier this week, economists said the Reserve Bank is likely to increase interest rates during its Monetary Policy Committee meeting next week.

The South African Reserve Bank uses inflation targeting to protect the value of the rand.

The Reserve Bank indicated last year that we are likely to see at least three interest rate hikes this year, given the acceleration in inflation both locally and globally.

“We expect inflation to rise higher at 5.7 % from 5.5% in November, that will push inflation rate for the year as a whole to 4.5 % although 4.5 % is right in the middle of the Reserves Bank 3 to 6 % target range. The Reserve Bank is more concerned about the inflation outlook and the monthly inflation rates. The Reserve Bank is likely to increase interest rates further when it meets next week,” said Nedbank Economist Isaac Meshego.

Share article
Previous Post

IEB learners’ parents in Gauteng proud of their achievements

Next Post

Government examining whether to end coronavirus State of National Disaster: Ramaphosa

Related Posts

FILE PHOTO: The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann

Nestle to hike food prices further in 2023, CEO says

4 February 2023, 2:51 PM
Aerial view of Komati Power Station

‘Declaring energy crisis a national state of disaster urgent’

4 February 2023, 6:16 AM
The dollar was last up 0.55% on the day against a basket of currencies at 102.35.

Dollar jumps as employers add more jobs than expected in January

3 February 2023, 6:14 PM
People work at ''The Faktory", a fashion design and clothing manufacturing company in Johannesburg, South Africa.

Business activity shrinks solidly in January

3 February 2023, 2:50 PM
A child walking while holding a candle during the rolling blackouts.

Eskom reduces rolling blackouts to stage four

3 February 2023, 6:30 AM
Electricity pylons  in South Africa.

Eskom anticipates lower stages of load shedding by the weekend

2 February 2023, 6:39 PM
Next Post
President Cyril Ramaphosa cuts the ribbon at the opening of the NantSA vaccine manufacturing campus in Brackenfel, Cape Town, January 19, 2021.

Government examining whether to end coronavirus State of National Disaster: Ramaphosa

Most Viewed

  • 24hrs
  • Week
  • Month
  • Registration at Unisa closes on Friday, but management says no need to panic
  • Green comet to be visible from SA next week
  • VIDEO: Mabuza resigns as SA Deputy President
  • Shock over proposed SA sponsorship of Tottenham Hotspur
  • Budding Stellenbosch FC star reportedly stabbed to death
  • Parts of the Northern Cape to be exempted from rolling blackouts
  • Registration at Unisa closes on Friday, but management says no need to panic
  • VIDEO | St Benedict College’s Matric learner gets 11 distinctions
  • Limpopo matriculant from child-headed household attains diploma pass
  • Female circumcision practice thriving in Eastern Cape
  • Green comet to be visible from SA next week
  • Budding Stellenbosch FC star reportedly stabbed to death
  • Tributes pour in for Stellenbosch FC player Oshwin Andries
  • Mabuza asked to remain in his role until transition finalised
  • ‘SA will remain a sinking ship under the ANC’

LATEST

President Cyril Ramaphosa
 has called a Joint Sitting of the National Assembly and the National Council of Provinces at 19h00 on Thursday to deliver the State of the Nation Address.
  • Politics

Opposition parties outline their expectations for SONA


Soccer Football - Premier League - Tottenham Hotspur v Manchester City - Tottenham Hotspur Stadium, London, Britain - February 5, 2023 Tottenham Hotspur's Harry Kane celebrates after the match after he became Tottenham Hotspur's all time top goalscorer Action Images via Reuters/Paul Childs EDITORIAL USE ONLY. No use with unauthorized audio, video, data, fixture lists, club/league logos or 'live' services. Online in-match use limited to 75 images, no video emulation. No use in betting, games or single club /league/player publications.  Please contact your account representative for further details.
  • Sport

Kane breaks Greaves Tottenham goal record, now targets Shearer


ANC Secretary General Fikile Mbalula together with party members at the January 8 anniversary celebration rally in Hammersdale , KwaZulu-Natal.
  • Politics

‘If you are lazy, stay home’, Mbalula advises ANC members


Gauteng Education MEC Matome Chiloane is seen interacting with the school management team at the Geluksdal Secondary School in Brakpan on 03 February 2023 following the fatal stabbing of a learner.
  • South Africa

Emotional stress, gangs behind recent spate of violence in Gauteng schools


FILE PHOTO: Russian hacking underground newsletter is seen in this illustration taken, December 19, 2022 REUTERS/Dado Ruvic/Illustration/File Photo
  • Sci-tech

Italy sounds alarm on large-scale computer hacking attack


[File image]
  • Africa

One peacekeeper killed in Congo after UN chopper comes under fire


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION

© 2022

Previous IEB learners’ parents in Gauteng proud of their achievements
Next Government examining whether to end coronavirus State of National Disaster: Ramaphosa