Cost-of-living crisis as CPI races to 5.9%, ahead of rate decision

Stoked by rising food prices, South Africa’s Consumer Price Index (CPI) accelerated to 5.9% in October from 5.4% in September.

By Ed Stoddard

23 Nov 2023

Source: 123RF.

This outpaced market expectations and brings CPI to the top of the SA Reserve Bank’s 3% to 6% target range just ahead of its next interest-rate decision.

The central bank is expected to hold rates steady, but the latest CPI read will give it pause for thought.

Read the full article by Ed Stoddard at Daily Maverick.

Source: Daily Maverick

Daily Maverick is a unique blend of news, information, analysis and opinion delivered from our newsrooms in Cape Town and Johannesburg, South Africa. There are many ways to describe exactly what we do (and for the price of a cup of coffee we’re capable of talking your ears off about it), but the best way to understand the end result is to experience it. Every part of Daily Maverick is free-to-air and no payment is required, although free registration is required for a small subset of functions and pages.

Daily Maverick is run by an independently owned, private company with no affiliation to any other media group (or political party or religious organisation.) Follow Daily Maverick on Twitter at @dailymaverick.

Go to: https://www.dailymaverick.co.za/