Today's Labour News

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Stats SABusinessLive reports that Statistics SA reported on Tuesday that consumer inflation slowed to 4% in February — from 4.4% in January — beating economists’ consensus of 4.2%.  

At 4%, inflation is well contained within the SA Reserve Bank’s target range of keeping inflation above 3% but below 6%.  Investec economist Lara Hodes correctly forecast that February’s inflation would moderate to 4%, saying:  "The key influencing factors for the February outcome are expected to be the food and fuel price components.  Fuel price pressures subsided in February, with petrol and diesel prices dipping by 30c and 17c a litre respectively."  The better than expected inflation figure raises hope that the Reserve Bank’s monetary policy committee will cut interest rates on 28 March.

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