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/ 28 May 2008

CPIX figures ‘seal the case for rate hike’

South Africa’s targeted CPIX (consumer inflation less mortgage costs) rate quickened unexpectedly to a near five-and-a-half year high of 10,4% year-on-year in April from 10,1% in March, official data showed on Wednesday. Mike Schussler, economist at T-Sec, said: ”That seals the case for interest-rate hikes. Inflation continues to shock.”

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/ 27 May 2008

GDP slows due to contraction in mining

South Africa’s economic growth rate slowed to 2,1% in the first quarter of 2008 on a seasonally adjusted and annualised basis, official data showed on Tuesday, citing a sharp drop in mining due to a power crisis. Statistics South Africa said Q1 GDP slowed from 5,3% in the fourth quarter of 2007.

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/ 3 March 2008

SA’s January PPI due on March 6 after delays

South Africa’s January producer price index (PPI) data will be released at 11.30am on Thursday March 6, Statistics South Africa said on Monday. The data, which will include changed weightings and new products in the PPI basket, was initially scheduled for release on February 28. It was delayed twice on problems related to the introduction of the new structure.

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/ 14 November 2007

September retail sales growth slows to 2%

South Africa’s retail sales growth slowed to 2% year-on-year in September at constant prices, data showed, but analysts said this was likely not enough to hold off another interest rate hike in December. Retail sales growth slowed from a downwardly revised 6,6% in August, Statistics South Africa said on Wednesday.