Inflation has risen in South Africa by 6.4 percent as revealed by official figures released on Wednesday.
Consumer prices rose from 6.3 percent this July according to Statistics South Africa.

The South African economy has witnessed a very slow growth and the economy has been upset by the rand which has weakened.
Calls have been made for the central bank to encourage the growth of the economy by introducing rate cuts.

According to an analyst at Rand Merchant bank, Carmen Nel the bank will probably stand pat for the moment.
“The evidence will continue to make them hawkish on the inflation outlook, but not enough to tighten policy any time soon” said Nel.
There have been calls to the bank to increase interest rates as this may ease price increases.

The bank is currently working on its monetary policy and is expected to conclude on September 19.
Head of premium clients at IG South Africa Travis Robson said: “What we’re expecting is for it to be unchanged, unchanged for now but possible guidance for change next year.”
Analysts in Africa say that inflation is expected to decrease between September and October following the cuts in petrol prices.
Another Analyst Kamilla Kaplan of Investec Bank said: “A continued absence of significant demand will argue against increases in the interest rate particularly as inflation will return to target”.

0

Comments

comments

About Author

Latest News

UDM Against Allocation Of 280 Cars To Zimbabwean Chiefs And Headmen

By United Democracy Movement Spokesman Mpiyezwe ..

President Emmerson Mnangagwa’s Government Must Read People’s Mood

By Leonard Koni. Harare, Zimbabwe. (News ..

Chiefs Will Deal With Gukurahundi Issue: Mohadi

Harare, Zimbabwe. – VICE-PRESIDENT ..

Let’s Close The Tap On Typhoid and Cholera Zimbabwean Government Urged

By Edward Makuzva. Harare, Zimbabwe. (News ..

Comments Closed .

Leave a Comment

Like Us On Facebook

SUBSCRIBE: YouTube Channel

Shock As Prophet Magaya Admits To Comiting Adultery

Zimbabwe, Harare. – PHD Ministries ..

Forget Motivational Stories: Write Your Own

By Pearson Mbendera I have read a lot of ..

Winky D Shines At First Ever Zim Dancehall Awards

By Daniel Muzana Zimbabwe`s Winky was the ..

A Story Of Love As Kenya Mourns The Westgate Mall Massacre

By Anoziva Marindire   The Nairobi Westgate ..

Whizz Kid 11 Year Old Joshua Ngoka Builds Computer

London, United Kingdom. – AN 11-YEAR-OLD ..

UDM Against Allocation Of 280 Cars To Zimbabwean Chiefs And Headmen

By United Democracy Movement Spokesman Mpiyezwe ..

Chiefs Will Deal With Gukurahundi Issue: Mohadi

Harare, Zimbabwe. – VICE-PRESIDENT ..

The Brazilians Taught A Hard Lesson By The Buccaneers

By Leonard Koni (Pretoria). (News of The ..

Welcome To The Dark Side Of Donald Trump

By Leonard Koni. Harare, Zimbabwe. (News ..

Murderer Kombian Returns To The Docks

Ghana`s notorious robber, Johnson Kombian, ..

Leaked Alangizi Video: Defending Alangizi, My Testimony

By Musamba Mumba Too much crap has been said ..

Eritrea Human Rights Abuses Highlighted At UN Review

Geneva – Eritrea was on Monday accused ..

Zimbabwe Communist Party Blasts Opposition Parties

By Munesu Chigada Harare, Zimbabwe (News ..

Silence Is Golden But Not In Business

By Pearson Mbendera I am the silent type. ..

Mandatory Circumcision of Inmates In Prisons

By By Mutinta Moono Hanyama (Zambian Eye) ..