South Africa’s inflation jumped to 3.3% in October, compared to the 3% percent registered in September.
According to the country’s Slstatistics office, inflation was driven by increases in the price of food items, non-alcoholic beverages, housing and utilities.
The reading, a seven-month high, falls within the South African Reserve Bank’s target range of between 3% and 6% annual inflation.
The data comes after South Africa Reserve bank left its key interest rate unchanged at 3.5%. The bank also forecast that Africa’s most- industrialised economy will shrink 8% this year, before expanding by 3.5% in 2021.
.
Follow us on:
The Federal Executive Council approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework, setting the federal budget at…
Benue State’s Commissioner for Finance has emphasised the need for farming to evolve from a…
Dr. Sani Abdullahi Shinkafi has called for overdue NNPC investigation and forensic audits in the…
Researchers have suggested Sudan’s war death toll may be significantly underreported, indicating a graver humanitarian…
A man detonated explosives near Brazil’s Supreme Court in a suspected suicide bombing, raising concerns…
Portugal has introduced tax relief for young workers to curb brain drain, yet doubts remain…