Inflation accelerated to 4.8% year-on-year in August, up from 4.7% in July, according to data from Statistics South Africa
The Mail & Guardian is committed to providing all our readers with the best possible experience, please register your free account now.registration to the M&G newslettershelps us give you the best possible experience on the M&G OnlineThe Mail & Guardian is committed to providing all our readers with the best possible experience.
By subscribing, you become a valued member of the M&G community, actively championing independent journalism and enabling us to deliver the latest news directly to you.M&G community membershipa digital version of the weekly newspaper emailed to you every week
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK inflation rate unexpectedly falls to 6.7% in AugustBritish annual consumer price inflation (CPI) unexpectedly fell to 6.7% in August, official data showed on Wednesday, a day before the Bank of England is expected to raise rates again.
Read more »
Inflation edges up in AugustHeadline consumer inflation edged up to 4.8% last month.
Read more »
South Africa's inflation edges up in August, day before rate decisionSouth Africa's headline consumer inflation edged up to 4.8% year-on-year in August from 4.7% in July , data from Statistics South Africa showed on Wednesday.
Read more »
Slight increase in inflation in August after 4 months of decreasesHousing and utilities and transport were responsible for the increase in the inflation rate, due to higher fuel prices and municipal rates.
Read more »
South African rand weakens ahead of inflation data, c.bank rate decisionThe South African rand edged lower in early trade on Tuesday as markets await local inflation figures and a central bank interest rate decision in the days ahead.
Read more »
Rising Food, Energy Prices Fuel Cost of Living Crisis in AfricaThe cost of living crisis in Africa is a major challenge facing the continent. The rising cost of food, fuel, and other essential goods and services is making it difficult for many Africans to meet their basic needs. Nigeria's annual inflation rate accelerated to an 18-year high of 25.8% in August, as Africa's largest economy grapples with rising prices ahead of a central bank interest rate decision. The spike in inflation was caused by a combination of factors, including the removal of petrol subsidies and the end of exchange controls. The rising cost of living is having a significant impact on Nigerians, many of whom are struggling to afford basic necessities. The government is facing increasing pressure to take action to address the crisis. In South Africa, unaudited fuel data indicated significant petrol and diesel price increases, mainly driven by higher international oil prices, which had surged since August due to reduced output by major oil-producing nations. According to the World Bank, economic growth in Sub-Saharan Africa (SSA) slowed to 3.6% in 2022, from 4.1% in 2021, and is projected to slow further to 3.1% in 2023. This downgrade is due to the persistent sluggishness of the global economy, declining yet high inflation rates, and challenging global and domestic financial conditions amid high levels of debt. Stubbornly high inflation, fueled by rising food and energy prices, weaker currencies, and low investment growth, continues to constrain African economies and create uncertainty for consumers and investors.
Read more »