Food inflation
Motorists warned to expect massive fuel price hike in June
This comes as government's fuel levy kicks in again from next month.
Lebanese flocked to bakeries before dawn on Friday, desperate to find affordable bread in a country where fuel and medicine are already in critically short supply.
There needs to be an urgent expansion of price controls, as well as an inquiry into the price-setting of major retailers.
The Food and Agriculture Organisation’s food price index averaged 172.4. points last month against 170.3 points in April - its highest level since last June.
The government would spend $737,000 daily instead of $25 million, the Finance Ministry said..
In one supermarket in northern Harare Wednesday morning, customers had packed their trollies with beer, bottled water, bread and other groceries.
By Dr Jack & Curtis.
Inflation has exceeded the government’s 2-4% target range, and its impacts could be far-reaching.
Economists polled by Reuters had forecast a 4.9% year-on-year inflation print.
The repo rate has been left unchanged since March last year.
XpertHR’s figures follow official data on Tuesday that showed a stronger rise in inflation than expected.
Economists polled by Reuters had forecast a 6.7% year-on-year inflation print.
Core inflation also jumped to 25.86% in the urban areas, the official CAPMAS statistics agency said on Tuesday.
According to the survey, drought is a big driver behind the drop in inflation expectations for next year.
Recent data shows the average South African salary grew just above the estimated rate of inflation.
SA consumers paid 6.1% more in May for goods and services compared to the same time last year.
702 & CapeTalk host Africa Melane gives listeners an opportunity to share their thoughts on the rising price of bread.
The Monetary Policy Committee will meet to decide whether the rate should be increased.
The Monetary Policy Committee will today announce whether or not it will hike interest rates.