Today's Labour News

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graphdown thumb medium90 80BusinessLive reports that consumer inflation has continued to ease, suggesting that the Reserve Bank could cut interest rates later this year.  The consumer price index (CPI) rose 5.1% in June, slowing by 0.3 percentage points from 5.4% in May.  

The Reserve Bank’s monetary policy committee will announce its decision on interest rates on Thursday, but the bank is not expected to announce any interest rate cuts yet.  In May it said inflation was too close to the upper end of the 3%-6% target band and remained “uncomfortably high”.  Food inflation — for a long time one of the main drivers of consumer inflation, as a prolonged and severe drought kept it in double digits — has been comfortably in single digits for four months now, and was near 7% for the second month.

  • Read this report in full at BusinessLive
  • See too, Consumer inflation falls for third month in a row, at Fin24

Get other news reports at the SA Labour News home page