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· October inflation in South Africa is at a high of high of 3.3%, as revealed by Statistics South Africa, which was in line with economists’ expectations. Inflation has risen 0.3% in October, edging up from the 0.2% increase reported in both August and September on a month on month basis
· Food and non-alcoholic beverages, housing and utilities and miscellaneous goods and services were the major contributors to the 3.3% annual inflation
· The inflation for goods was pegged 2.6% annually and services 3.8%.
Iflation in South Africa is at a high of 3.3%, as revealed by Statistics South Africa, which was in line with economists’ expectations. Inflation has risen 0.3% in October, edging up from the 0.2% increase reported in both August and September on a month on month basis.
Food and non-alcoholic beverages, housing and utilities and miscellaneous goods and services were the major contributors to the 3.3% annual inflation. Further, the inflation for goods was pegged 2.6% annually and services 3.8%.
Some economists are of the view that a 30c/l cut in the petrol price may be desirable to keep inflation under check.. they expected inflation to remain unchanged from September at 3%. If this trend continues, they feel that the annual inflation will be 3.2%. However, the Bureau for Economic Research expected inflation to drop slightly to 2.9%.
