JUST IN | Inflation cools slightly to 7.5%

[rvZA]

Annual consumer price inflation cooled to 7.5% in September from 7.6% in August, which was slightly better than economists expected.

Still, it’s clear that South Africans continue to suffer from eyewatering price increases.

Annual food and non-alcoholic beverage inflation increased to 11.9% from 11.3% in August, with bread and cereal prices up 19.3% from a year before – the biggest increase in 13 years.

Still, Statistics South Africa says that food prices are showing signs of cooling down.

The 0.5% monthly increase in food and beverage prices was lower than the 1.8% monthly rise recorded in August.

Prices for sunflower oil slumped by 8.0% in a single month, with the average price of a 750ml bottle of cooking oil falling to R41.38 from a high of R45.33 in July. "Despite this decrease, the price is still significantly higher than the R30.98 consumers paid in September 2021," noted Statistics SA.

Annual meat inflation was 9.9%, but the monthly change slowed from 0.7% to 0.5%.

However, September’s inflation data showed worrying increases in other prices.

Personal care products were 8.3% higher than a year ago - the highest annual increase since December 2009. The monthly increase for personal care products was 1.9%, more than double the 0.8% recorded in August, Statistics SA reported.

Inflation cools slightly to 7.5% | Business

Annual consumer price inflation cooled to 7.5% in September from 7.6% in August

www.news24.com

 

[rvZA]

75bps increase on the way.....

 

[surface]

Prices have skyrocketed already.

Food prices in South Africa continue to soar – here’s what you’re paying more for

The latest Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) shows that food prices in South Africa continue to rise despite lower fuel and global commodity food prices.

businesstech.co.za

 

[Okty]

You know what's messed up, food prices (and services) already went up this year due to higher oil price, because a certain dictator thought he could win 3 day operation in Eastern Europe.

This helps inflation go up because everyone is automatically paying more for the same goods (and services), which raises the basis points.

Which intern makes basic goods go up again and the reserve will want to raise the basis points again

 

[konfab]

You know what's messed up, food prices (and services) already went up this year due to higher oil price, because a certain dictator thought he could win 3 day operation in Eastern Europe.

This helps inflation go up because everyone is automatically paying more for the same goods (and services), which raises the basis points.

Which intern makes basic goods go up again and the reserve will want to raise the basis points again

Oil prices are only high because retarded environmentalists in Europe decided to scuttle all their nuclear reactors, then decided to make it illegal to drill for more oil in their territories.

All Putin did was take advantage of the eco-communists.

 

[rh1]

Oil prices are only high because retarded environmentalists in Europe decided to scuttle all their nuclear reactors, then decided to make it illegal to drill for more oil in their territories.

All Putin did was take advantage of the eco-communists.

Agree, all part of the Woke Delusionists narratives which ignores facts over beliefs.

Next is the belief that electric vehicle can replace logistics vehicles:

 

[epah]

Salary increased by a whopping 0.00%.

 

[MilitantNightElf]

The sutherland spar has been selling bread for the same price for two years. My local butcher only puts his prices up once a year. Same with the chinese and indian take out places I buy from on occassion.

I really dont get monthly inflation figure. Prices only go up once a year for me.

 

[NarrowBandFtw]

oh look, more BS stats

anyone seriously think our real inflation is somehow lower than UK and US official inflation figures? ... keeping in mind they also cook the books and their official inflation has been lower than ours for decades

but magically in 2022 all that changed, ZA is now better off than the 1st world

 

[BBSA]

Salary increased by a whopping 0.00%.

Increase based on performance?

 

[konfab]

oh look, more BS stats

anyone seriously think our real inflation is somehow lower than UK and US official inflation figures? ... keeping in mind they also cook the books and their official inflation has been lower than ours for decades

but magically in 2022 all that changed, ZA is now better off than the 1st world

Yes. The SARB didn't completely cr@p the bed with COVID .

Inflation ultimately is a money supply phenomena. In SA, there wasn't that much of an increase. A small poo if you will


UK central bank took quite a big dump.



The US federal reserve unleashed a $hit tsunami in terms of money supply

South Africa Money Supply M1, 1965 – 2023 | CEIC Data

South Africa Money Supply M1 was reported at 146.486 USD bn in Nov 2022. This records an increase from the previous number of 132.846 USD bn for Oct 2022.

www.ceicdata.com

US Money Supply M1, 1959 – 2023 | CEIC Data

US Money Supply M1 was reported at 19,933.200 USD bn in Nov 2022. This records a decrease from the previous number of 20,099.700 USD bn for Oct 2022.

www.ceicdata.com

https://www.ceicdata.com/en/indicator/united-kingdom/money-supply-m1

 

[epah]

Increase baced on performance?

What performance. I spend 80% of my work day with the MyBB tab open in front of me.

 

[NarrowBandFtw]

The US federal reserve unleashed a $hit tsunami in terms of money supply
View attachment 1404445

South Africa Money Supply M1, 1965 – 2023 | CEIC Data

South Africa Money Supply M1 was reported at 146.486 USD bn in Nov 2022. This records an increase from the previous number of 132.846 USD bn for Oct 2022.

www.ceicdata.com

US Money Supply M1, 1959 – 2023 | CEIC Data

US Money Supply M1 was reported at 19,933.200 USD bn in Nov 2022. This records a decrease from the previous number of 20,099.700 USD bn for Oct 2022.

www.ceicdata.com

https://www.ceicdata.com/en/indicator/united-kingdom/money-supply-m1

they've been doing that since 2007 at alarming rates, yet their official inflation has always been significantly lower than ours, they print the world's reserve currency after all ...

doesn't explain why the tables would suddenly turn in 2022, especially not with them hiking interest rates as well and the USD gaining strength against all other currencies

 

[cr@zydude]

oh look, more BS stats

anyone seriously think our real inflation is somehow lower than UK and US official inflation figures? ... keeping in mind they also cook the books and their official inflation has been lower than ours for decades

but magically in 2022 all that changed, ZA is now better off than the 1st world

UK inflation is driven by natural gas which is a tiny part of the South African energy basket.

US inflation is driven by high US rental costs.

 

[Harmonic]

Increase based on performance?

@epah is employed by @Jean Claude Vaaldamme. They don't see eye to eye on magic starfish matters

 

[TheChamp]

Now we need an article about the real inflation rate.

 

[Moto Guzzi]

Apart from the term "Inflation" is the abstract boxing/projection of "The mismanagement of money & resources in any economy", I cannot for the life of me figure out how they come to such a low percentage. Most stuff I bought risen recently at least double in price apart from a few foodstuff, so I don't get the extreme low value of around 7%,the damage is far more than that, no bussiness wants to bent..

 

[BBSA]

Now we need an article about the real inflation rate.

The official government figures are wrong?

 

[Speedster]

Apart from the term "Inflation" is the abstract boxing/projection of "The mismanagement of money & resources in any economy", I cannot for the life of me figure out how they come to such a low percentage. Most stuff I bought risen recently at least double in price apart from a few foodstuff, so I don't get the extreme low value of around 7%,the damage is far more than that, no bussiness wants to bent..

Statssa publishes a full breakdown of each basket element. Maybe download that and show us which numbers are incorrect?

 

[TheChamp]

The official government figures are wrong?

The expert will reveal everything in the thread.