https://www.engineeringnews.co.za

Seifsa welcomes easing inflation

22nd March 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

The Steel and Engineering Industries Federation of Southern Africa (Seifsa) on Wednesday welcomed the easing in consumer price inflation to 6.3% in February, down from 6.6% in January.

Contributors to easing inflation included food and nonalcoholic beverages, as well as household contents and services. 

Seifsa chief economist Tafadzwa Chibanguza said the strengthening rand had a positive impact on inflation and on the inflation outlook.

“The rand is actually doing a lot of work for the Monetary Policy Committee of the South African Reserve Bank, which meets next week to decide on the next rate move,” he said.

Chibanguza added that the February consumer price index reading, together with the current level of the rand, measuring R12.65 to the dollar, presented a case for rates to remain on hold next week.

Seifsa’s view was further supported by the core inflation reading, which excludes food, nonalcoholic beverages, fuel and energy, which was recorded at 5.2% year-on-year in February. The reading is down from the December 2016 and January 2017 year-on-year readings of 5.9% and 5.5%, respectively.

“Easing inflation translates favourably to consumer balance sheets, hence the February 2017 reading is definitely a welcome move,” Chibanguza noted.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 08 May 2026
Magazine round up | 08 May 2026
8th May 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.076 0.118s - 158pq - 2rq
Subscribe Now