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The Consumer Price Index (CPI) in November came out lower than market expectation, rising to 6.1%.<\/p>\n
\u201cThe headline CPI annual inflation rate in November 2011 was 6.1%. This rate was 0.1 of a percentage point higher than the corresponding annual rate of 6% in October 2011,\u201d said Statistics South Africa on Wednesday.<\/p>\n
CPI breached the Reserve Bank\u2019s target range of between three and six percent.<\/p>\n
On average, prices increased by 0.3% between October 2011 and November 2011. The food and non-alcoholic beverages index increased by 0.5% between October 2011 and November 2011.<\/p>\n
The market had expected consumer inflation to rise to 6.2%.<\/p>\n
Nedbank economists expect inflation to continue on its upward trend in the coming months coming off a low base.\u00a0 Higher food and administered prices are expected to remain the main drivers of inflation.<\/p>\n
\u201cIt seems likely that the Reserve Bank will keep interest rates unchanged for most of 2012 unless evidence of second-round inflationary pressures emerge. For the moment, the Bank will continue to focus on the threat posed by the on-going European debt crisis and the adverse effects on domestic growth, particularly if the recession in Europe turns out to be more severe than many anticipate.\u201d<\/p>\n
Standard Bank economists said the door remained open for further interest rate cuts in 2012, given evidence of a slowdown in the domestic and global economy.<\/p>\n
\u201cHowever, we maintain our base case scenario that the SARB is likely to keep the repo rate unchanged at 5.5% next year.\u201d \u2013 BuaNews<\/p>\n
\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"
The Consumer Price Index (CPI) in November came out lower than market expectation, rising to 6.1%. \u201cThe headline CPI annual inflation rate in November 2011 was 6.1%. This rate was 0.1 of a percentage point higher than the corresponding annual rate of 6% in October 2011,\u201d said Statistics South Africa on Wednesday. CPI breached the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1289,5],"class_list":{"0":"post-6116","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-mype","8":"tag-port-elizabeth-2","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6116"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6116\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}