Today's Labour News

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Stats SABusinessLive reports that Statistics SA announced on Wednesday that the consumer price index (CPI) rose 4.8% in August from a year earlier.  

That compares with a 4.6% year-on-year increase in July, and expectations that inflation would pick up even faster to 4.9%.  CPI inflation, on which the Reserve Bank bases its 3%-6% inflation target, has been within that band since April this year.  One of the main factors in moderating inflation this year has been slowing food price increases.  Food inflation spent the better part of a year in double digits, but the alleviation of the drought in most areas — apart from the Western Cape — has helped food inflation to fall back into single digits, and it has been steady near 7% in the past few months.  It is expected to continue to moderate in August.  Transport fuels were up 5.7% year-on-year in August, after a 3.6% fall in July.


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