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November inflation ticks slightly higher to 5.2%

 November inflation ticks slightly higher to 5.2%

Photo by Bloomberg

12th December 2018

By: News24Wire

  

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November inflation ticked up to 5.2%, according to data released by Statistics South Africa (Stats SA) on Wednesday. 

This is up from inflation of 5.1% recorded for October. 

Analysts from NKC Economics had forecast inflation to come in at 5.2%.

RMB Global Markets Research head Nema Ramkhelawan-Bhana expected inflation figures to be unchanged at 5.1%, due to "relatively stable" fuel prices.  

The main contributors to inflation were alcoholic beverages and tobacco which increased to 4.8%, year-on-year, followed by miscellaneous goods and services which increased by 5.5% year-on-year.

Retail sales data for October will be released at 13:00. NKC analysts expect sales growth to accelerate to 2.5%, from 0.7% recorded in September. 

US consumer inflation data will also be released later with expectations that it will decline to 2.2% from 2.5%, given weaker energy prices in November, according to NKC. 

Edited by News24Wire

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