Inflation eases to an almost five-year low
South African inflation slowed to an almost five-year low in March, taking it below the floor of the central bank’s target range.
The consumer price index rose 2.7% last month from a year earlier versus 3.2% in February, Pretoria-based Statistics South Africa said in a statement on its website on Wednesday. That was less than the 3% median estimate of 15 economists in a Bloomberg survey.
Policymakers, who aim to anchor inflation expectations around the midpoint of their 3% to 6% target range, will likely remain cautious because of the impact US President Donald Trump’s trade war may have on inflation and the rand.
Reserve Bank Governor Lesetja Kganyago last week warned that confidence in the global economy has been dimmed by trade tensions and South Africa would not escape from the fallout.
“Risks to domestic inflation and growth have risen markedly since the start of the year,” Kganyago said at the release of the central bank’s biannual monetary policy review.
He also expressed concern over a 0.5 percentage point increase in value-added tax that is due to come into effect on May 1. The central bank’s research suggests the increase that is expected to be followed by another 0.5 percentage point hike next year, may add 0.2 percentage points to headline inflation annually.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
