Today's Labour News

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Stats SAReuters reports that SA’s headline consumer inflation slowed unexpectedly in August, data from Statistics SA showed on Wednesday.  

The consumer price index (CPI) slowed to 4.9% year-on-year in August from 5.1% in July, and contracted 0.1% after rising 0.8% on a monthly basis.  Economists had expected CPI to rise to 5.2% year-on-year, according to a Reuters poll.  Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, fell to 4.2% year-on-year in August from 4.3% in July, while on a month-on-month basis core inflation was flat at 0.0% from 0.6%.  The data offered some respite after the economy slipped into recession in the second quarter for the first time since 2009.  The Reserve Bank will announce its latest interest rates decision on Thursday.  “These (inflation) numbers will provide some short term breathing space for the bank tomorrow,” BNP Paribas SA senior economist Jeff Schultz said.

  • Read this report by Olivia Kumwenda-Mtambo in full at Moneyweb

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