Sa in recession
Fuel price hike to have knock-on effect for transport, food costs
Motorists are now paying R16.49 cents per litre of petrol at the coast, a rand more than they were on Tuesday.
At 1509 GMT, the rand traded at 14.1525 per dollar, 0.11% weaker than its close on Thursday.
At 1505 GMT the rand was 0.17% softer at 14.41 per dollar, with a move to the 14.50 level seen as a pivot point that could increase selling on the unit towards 14.70.
The president on Friday announced the plan to pull the economy out of recession.
Economists had expected CPI to rise to 5.2% year-on-year, according to a Reuters poll.
Cape Amalgamated Taxi Association’s Siseko Khewana says commuters will be warned about fare increases in advance.
President Cyril Ramaphosa tells members of the diplomatic corps it is part of his drive to get $100 billion in new investment into South Africa over the next five years.
At 1511 GMT, the rand was 1.62% firmer at 14.7325 per dollar, just shy of its session-best 14.7000 touched immediately after Turkey’s central bank raised its benchmark rate by 625 basis points.
The Automobile Association says mid-month unaudited data from the Central Energy Fund indicates a major increase in the price of fuel.
BankservAfrica's Sheragen Naidoo says while the economy is still in a decline, the latest data shows that the economy is looking stronger than previous months.
At 1400 GMT, the rand was 0.6% firmer at 15.1250 per dollar, a touch softer than the session-best 15.0100 it reached as London traders came online.
This will be his third question session since he became the president in February.
At 1410 GMT the rand was 0.2% firmer at 15.2100 per dollar, having opened slightly lower but firming throughout the session.
The DA leader says the country cannot tax itself to prosperity and that the current recession should push government to get rid of parastatals that are running at a loss.
Nene said on Monday that there is a significant downside risk to revenue collection due to a recession and problems in tax collection by the revenue service.