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November PPI slows to 9,1%

South Africa's producer price inflation (PPI) slowed to 9,1% year-on-year in November, below forecasts, from a 9,5% rise in October. On a monthly basis, PPI rose by 0,3% after a 1,1% jump in October. Economists had forecast that annual PPI would come in at 9,7%, while the monthly rate of increase was seen at 0,8%.

Interest rate climbs again

South African Reserve Bank Governor Tito Mboweni on Thursday raised the repo rate by 50 basis points following a two-day meeting of the bank's monetary policy committee. The increase pushes the repo rate to 11%, the prime overdraft rate to 14,5% and the tightening cycle that began in June last year to 400 basis points.

PPI figure ‘in line with market expectations’

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.

GDP growth slows in second quarter

South Africa's real gross domestic product (GDP) at market prices on a quarter-on-quarter seasonally adjusted annualised (saa) basis rose by 4,5% in the second quarter of 2007 from 4,7% in the first quarter of 2007, Statistics South Africa said on Tuesday. This comes after GDP rose as high as 5,6% in the fourth quarter of last year.

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