https://www.engineeringnews.co.za
Africa
Africa
africa

South Africa inflation surge unlikely to bring forward rate hike

South Africa inflation surge unlikely to bring forward rate hike

Photo by Reuters

23rd June 2021

By: Bloomberg

  

Font size: - +

The rise in South Africa’s inflation rate to a 30-month high is unlikely to bring forward an interest-rate hike as the central bank had forecast a second-quarter spike in price growth.

Consumer prices rose 5.2% in May from a year earlier, compared with 4.4% in April, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. That matched the median of 15 economists’ estimates and was above the 4.5% midpoint of the central bank’s target range for the first time in 15 months.

The Reserve Bank’s quarterly projection model in May showed that inflation would breach 4.5% -- where the monetary policy committee prefers to anchor price growth -- in the second quarter and again in the fourth. The model also indicated a 25 basis-point increase in its benchmark rate in each of those two quarters.

To watch Creamer Media's latest video reports, click here
 

Edited by Bloomberg

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







sq:4.935 5.126s - 140pq - 2rq
Subscribe Now