Categories: AFRICA

South Africa’s Inflation Rises to 3.3% in October

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:

AriseNews

Recent Posts

FG Approves 2025-2026 MTEF, Targets N47.9trn For 2025

The Federal Executive Council approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework, setting the federal budget at…

19 mins ago

Michael Oglegba: Benue State Is Embracing Mechanisation to Transform Agriculture

Benue State’s Commissioner for Finance has emphasised the need for farming to evolve from a…

25 mins ago

Government Should Conduct Forensic Audit Before Funding Power Sector; NNPC Probe Long Overdue, Says Abdullahi Shinkafi

Dr. Sani Abdullahi Shinkafi has called for overdue NNPC investigation and forensic audits in the…

4 hours ago

Sudan War Death Toll Significantly Much Higher Than Recorded, Researchers Say

Researchers have suggested Sudan’s war death toll may be significantly underreported, indicating a graver humanitarian…

4 hours ago

Bomb Blast Outside Brazil’s Supreme Court Sparks Security Fears Ahead of G20 Summit

A man detonated explosives near Brazil’s Supreme Court in a suspected suicide bombing, raising concerns…

5 hours ago

In Bid To Fight Brain Drain, Portugal Introduces Tax Relief and Housing Aid

Portugal has introduced tax relief for young workers to curb brain drain, yet doubts remain…

5 hours ago