The Consumer Price Index (CPI) rose to 6.6% in May breaching the Reserve Bank's inflation target range for a second month in a row, Statistics South Africa (Stats SA) announced today. The CPI came in at 6.1% in April breaching the central bank's 3 to 6% inflation target range. According to Stats SA, the food and non-alcoholic beverages index rose by 0.9%, while the annual rate increased to 8.8%. Market consensus was for CPI to come in at 6.5%. "We expect inflation to remain elevated … [Read more...] about CPI rises to 6.6% in May
statistics sa
GDP decreases by 0.6% in first quarter
The seasonally adjusted Gross Domestic Product (GDP) at market prices slumped at an annualised rate of 0.6% for the first quarter of 2014, Statistician General Pali Lehohla announced on Tuesday morning. This decrease in growth - the worst since the second quarter of 2009 when the world's economy dipped as a result of the global recession - comes after the GDP grew by an annualised rate of 3.8% in the fourth quarter of 2013. Releasing the latest GDP results at the Government Communication … [Read more...] about GDP decreases by 0.6% in first quarter
SA unemployment rate rises in first quarter
South Africa's unemployment rate rose to 25.2% in the first quarter of 2014, up from the 24.1% in the fourth quarter of 2013, Statistics South Africa (Stats SA) said on Monday. The unemployment rate increased in the first three months of 2014 from the previous rate of 24.1%, according to the Quarterly Labour Force (QLF) report released by Stats SA. The number of people without work increased by 237 000, showing that this amounted to five million people, noted the report that polls … [Read more...] about SA unemployment rate rises in first quarter
February CPI rises to 5.9%
The Consumer Price Index (CPI) rate rose to 5.9% in February, Statistics South Africa (Stats SA) said today. In January CPI - which the South African Reserve Bank (SARB) uses to target inflation - rose to 5.8%. The Reserve Bank targets inflation between 3% and 6%. Wednesday's data was in line with market expectations. On average, prices increased by 1.1% between January 2014 and February 2014, Stats SA said. On a monthly basis, prices rose by 1.1%, mainly pushed up by the … [Read more...] about February CPI rises to 5.9%
Third quarter GDP rises by 0.7%
South Africa’s real Gross Domestic Product (GDP) increased by 0.7% in the third quarter of 2013 compared to a revised 3.2% growth in the second quarter, said Statistics South Africa (Stats SA). "Real gross domestic product at market prices increased by 0.7% quarter-on-quarter, seasonally adjusted and annualised," said Stats SA on Tuesday. Mining and quarrying, finance, real estate and business services, the wholesale, retail and motor trade, catering as well as the transport, storage and … [Read more...] about Third quarter GDP rises by 0.7%
CPI slows to 5.5% in October
The Consumer Price Index (CPI) slowed to 5.5% year-on-year in October, falling lower than market expectation. Statistics South Africa (Stats SA) released the data on Wednesday. Market expectation was that CPI would fall to 5.7% in October, down from the 6% recorded in September. According to Stats SA, prices increased by 0.2% between September and October 2013. The food and non-alcoholic beverages index increased by 0.9% between September and October 2013, while the transport index … [Read more...] about CPI slows to 5.5% in October
SA unemployment rate eases by 0.9% in third quarter
South Africa's unemployment rate eased to 24.7% in the third quarter of 2013, down from 25.6% in the second quarter, Statistics South Africa (Stats SA) announced on Tuesday. "The unemployment rate decreased by 0.9% of a percentage point from 25.6% in quarter two 2013 to 24.7% in quarter three of 2013," said Stats SA as it released its Quarterly Labour Force Survey (QLFS) for the third quarter. The QLFS is a household-based sample survey conducted by Stats SA. It collects data on the labour … [Read more...] about SA unemployment rate eases by 0.9% in third quarter
CPI slows in September
The Consumer Price Index (CPI) eased to 6% in September, Statistics South Africa (Stats SA) said today. CPI rose to 6% year-on-year in September after rising to 6.4% in August. The 6.4% rise was above the Reserve Bank's target range of between 3% and 6%. The figure was in line with market expectation. "On average, prices increased by 0.5% between August 2013 and September 2013," said Stats SA. The food and non-alcoholic beverages index decreased to 5.9% in September 2013 from 7.1% in … [Read more...] about CPI slows in September
GDP increases by 3 percent in second quarter
The Gross Domestic Product (GDP) at market prices increased by 3.0 percent during the second quarter of 2013, Statistics South Africa (StatsSA) has announced. "The seasonally adjusted real GDP at market prices for the second quarter of 2013 increased by an annualised rate of 3.0 percent compared with an increase of 0.9 percent during the first quarter of 2013," it said on Tuesday. The nominal GDP at market prices during the second quarter of 2013 was R836 billion, which is R23 billion more … [Read more...] about GDP increases by 3 percent in second quarter
Why are we ‘celebrating’ an increase in social welfare?
Statistics South Africa (Stats SA) said in a report released today that there have been improvements in key delivery sectors pointing out that the General Household Survey (GHS) 2012 report shows an increase in the number of households who now have access to piped water, sanitation and electricity, among others. The report provides analysis and tracks key service delivery aspects, including housing, access to electricity and household income. The figures that concern me and could be said … [Read more...] about Why are we ‘celebrating’ an increase in social welfare?
CPI breaches target range
The Consumer Price Index (CPI) came in at 6.3% year-on-year in July, Statistics South Africa (Stats SA) said on Wednesday. CPI breached the Reserve Bank's inflation target range of between 3% and 6%. In June, CPI came in at 5.5%. On an annual basis, the main drivers of inflation were housing and utilities (1.4%), transport (1.3%), miscellaneous goods and services (1.1%) and food and non-alcoholic beverages (1%). Nedbank economists said that market expectation had been for inflation to … [Read more...] about CPI breaches target range
SA Unemployment rate at 25.6% in second quarter
South Africa's unemployment rate increased to 25.6% in the second quarter of 2013, Statistics South Africa (Stats SA) said on Tuesday. Briefing reporters at the release of the Quarterly Labour Force Survey, Statistician General Pali Lehohla said a net gain of 100 000 jobs was seen in employment in the second quarter. This, however, was offset by a 122 000 increase in job-seekers. "As a result, the unemployment rate increased by 0.4 of a percentage point to 25.6%," said Stats SA. South … [Read more...] about SA Unemployment rate at 25.6% in second quarter
June CPI rises to 5.5%
The Consumer Price Index (CPI) rose to 5.5% in June, Statistics South Africa (Stats SA) announced on Wednesday. "This rate was 0.1 of a percentage point lower than the corresponding annual rate of 5.6% in May 2013," said Stats SA. Market expectation was for CPI - used to measure inflation - to come in at 5.7%. Nedbank said: "The downside surprise relative to our forecast stemmed from very subdued food prices. Prices in the food and non-alcoholic beverages category increased by 0.1 % … [Read more...] about June CPI rises to 5.5%
CPI unchanged in April
The Consumer Price Index (CPI) in April remained unchanged at 5.9% year-on-year, Statistics South Africa (Stats SA) said on Wednesday. "Headline CPI in April 2013 was 5.9%. This rate was the same as the corresponding annual rate of 5.9% in March 2013," said Stats SA. Analysts had expected CPI to come in at 5.7%. In a research note earlier, Standard Bank economist Shireen Darmalingam said the bank estimated that CPI would rise to 5.8% year-on-year. "CPI has been on an upward … [Read more...] about CPI unchanged in April
January retail trade sales lower than expected
Retail trade sales for January came in lower than expected at 1.9% year-on-year. "Measured in real terms (constant 2012 prices), retail trade sales increased by 1.9% year-on-year in January 2013," said Statistics South Africa (Stats SA) on Wednesday. The main contributors to the 1.9% increase were general dealers (contributing 1.2% percentage points) and retailers in textiles, clothing, footwear and leather goods (contributing 1.1% points). This followed month-on-month changes of 0.4% … [Read more...] about January retail trade sales lower than expected
