There is bad news for consumers with inflation ticking up by 0.6% in September.
There is bad news for consumers as price pressures increase with inflation ticking up by 0.6% in September.
The main contributors to inflation came from transport, food and non-alcoholic beverages as well as miscellaneous goods and services. “This was partly due to base effects because of the fact that we obviously saw inflation falling a year ago but also, from the large fuel price we saw in the month of September which saw the petrol price rising by R1.71 per litre. Looking forward, the South African Reserve Bank at the Monetary Policy Review said that the interest rate is at a sufficient level to bring inflation down next year, which implies that there shouldn’t be further interest rate hikes and we concur with that.
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