Lower prices are good insofar as inflation is concerned but they suggest that economic troubles lie ahead
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Policymakers have been warned to remain disciplined as economies navigate headwinds — no matter how much it hurts
Analysts say the Reserve Bank could start tightening monetary policy as early as next month
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/ 12 January 2009
Investors may fear that a renewed focus on politicking after Monday’s Jacob Zuma judgement will divert attention from the reassurance they seek.
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/ 11 December 2008
The cut in the repo rate made by the South African Reserve Bank on Thursday was ”the right thing to do”, Standard Chartered Bank has said.
South Africa’s producer price inflation (PPI) accelerated unexpectedly to 12,4% year-on-year in April, increasing the possibility of a bigger than previously expected interest-rate hike in June. Statistics South Africa said on Thursday headline PPI — which represents domestic output — accelerated from an upwardly revised 11,9% in March.
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.
South Africa’s producer price index (PPI) rose by 11,8% year-on-year in March from 11,2% in February, Statistics South Africa data on Thursday showed. Dawie Roodt, economist at Efficient Group, commented: "I am afraid all these price increases from producers will start filtering to consumers."
South Africa’s producer price inflation (PPI) accelerated above forecasts to 11,2% year-on-year in February from 10,4% in January, official data showed on Thursday.
Statistics South Africa said the headline number, representing domestic output, stood at 1,3% on a monthly basis, compared with 1% previously. Economists polled last week forecast that annual PPI would come in at 10,7%, while the monthly rate of increase was seen at 0,8%.
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/ 28 February 2008
South Africa’s consumer inflation, which jumped unexpectedly in January, raised the risk of further monetary tightening despite worries over slowing economic growth. Statistics South Africa said on Wednesday that targeted CPIX (consumer inflation less mortgage costs) stood at 8,8% year-on-year in January compared with 8,6% in December.
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/ 20 February 2008
Overwhelmingly positive or mediocre? Economists on Wednesday had a variety of impressions to share of Finance Minister Trevor Manuel’s national budget, tabled in Parliament earlier in the day. Colen Garrow, economist at Brait, said: "There was nothing in it for the embattled consumer."
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/ 18 February 2008
The goal posts for Finance Minister Trevor Manuel’s spending plans in Wednesday’s national budget were carefully placed last October when he revealed his medium-term expenditure framework. However, political change and the dramatic change in economic outlook caused by the electricity crisis have set the posts whirling.
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/ 31 January 2008
South Africa’s crippling power crisis will not put off investors nor limit its ability to stage the 2010 Soccer World Cup, Public Enterprises Minister Alec Erwin said on Wednesday. Rolling power cuts have plagued homes, businesses and the mining industry in South Africa for weeks and are likely to continue for about five years, according to state power utility Eskom.
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/ 11 January 2008
Kenya’s opposition said on Friday it planned to restart protests across the East African nation against President Mwai Kibaki’s disputed re-election after the failure of African Union mediation. Kibaki’s government has made clear it will not tolerate opposition marches. Previous protests have led to bloody clashes between opposition supporters and security forces.
The bitter dispute over the Kenyan presidency could have long-lasting economic repercussions, observers warn, fearing that financial turmoil could quickly derail an, until now, booming economy. Considered an investor-friendly haven of relative stability on its way to becoming an ”African Tiger”, Kenya is experiencing its worst political unrest in 25 years.
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/ 19 December 2007
South African consumer inflation raced further away from the central bank’s band in November, backing the case for another interest rate rise, despite a slowdown in retail sales. The targeted CPIX gauge — which strips out mortgage costs — jumped to 7,9% year-on-year from 7,3% in October.
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/ 5 December 2007
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South Africa’s economic boom looks set to persist but concerns linger over the direction of policy after the crucial African National Congress (ANC) conference, which seems likely to choose Jacob Zuma as the ruling party’s new leader. Economic growth jumped to 5,4% in 2006 — its fastest rate since 1981 — and wealth is spreading to a burgeoning black middle class.
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/ 30 November 2007
South Africa’s monthly trade deficit jumped to a record R14,73-billion in October, compared to September’s R4,3-billion shortfall, the South African Revenue Service said on Friday. Economists polled by Reuters last week had forecast a deficit of R6,8-billion.
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/ 25 October 2007
South Africa’s producer price index (PPI) rose by 9,4% year-on-year (y/y) in September, unchanged from August, Statistics South Africa data on Thursday showed. The PPI declined 0,7% on a monthly basis after August’s monthly increase of 0,7%. PPI was at 9% y/y a year ago.
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/ 27 September 2007
South Africa’s producer price inflation (PPI) slowed to 9,4% year-on-year in August, below forecasts, after a 10,3% increase in July, official data showed on Thursday. On a monthly basis, PPI increased by 0,7% after a 1,6% rise in July. Economists had forecast that annual PPI come in at 9,7%, while the monthly rate of increase was seen at 1%.
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/ 2 September 2007
A string of gloomy data has clouded some of the optimism surrounding the South African economy, raising fears of another interest-rate hike and casting doubt on government growth forecasts. Figures released on Tuesday showed that growth had slowed by 0,2 percentage points to 4,5% in the second quarter of 2007.