JUST IN | Inflation hits new 13-year high

[rvZA]

Annual consumer inflation reached its highest level in 13 years, increasing to 7.8% in July from 7.4% in June. The increase was in line with economists' forecasts.

The consumer price index (CPI) rose by 1.5% between June and July this year. According to Statistics SA, this was only the fourth time since 2008 that the monthly increase was 1.5% or higher.

Annual food inflation rose by 9.7% in July, from 8.6% in June. Bread and cereals prices were 13.7% higher than a year ago. Between June and July, there were large monthly price hikes reported in a range of products, including, maize meal (4.2%), cake flour (6.3%), macaroni (5.0%) and white bread (2.8%). But rice prices fell by more than 3%,

Oils and fats saw the biggest price hikes - up 36% in July from a year ago.

Inflation hits new 13-year high as food prices rocket | Business

Food prices are almost 10% higher than a year ago, with large increases in bread and oil prices. Taxi fares jumped 9% in a single month.

www.news24.com

 

[rvZA]

S**t!

 

[OnePlusOne]

If you believe inflation is 7.8%, you probably believe the earth is flat too. Closer to double that.

 

[Lupus]

Don't worry guys, increase the repo rate, that fights inflation...

 

[Benedict A55h0le]

Need to get high

 

[hopeless_sapien]

Stay strong. Don't give up. Be kind to those around you. Pay your tax.

 

[noxibox]

If you believe inflation is 7.8%, you probably believe the earth is flat too. Closer to double that.

Show us your calculation using the same basket of goods.

 

[Senor]

If you believe inflation is 7.8%, you probably believe the earth is flat too. Closer to double that

I world estimate that between fuel and groceries, alone, my expenses has gone up a minimum of 15 percent in the last 6 months.

 

[noxibox]

Don't worry guys, increase the repo rate, that fights inflation...

Unfortunately a myth still believed by many.

 

[noxibox]

I world estimate that between fuel and groceries, alone, my expenses has gone up a minimum of 15 percent in the last 6 months.

That's your personal inflation and this has always been true in every country. There is no way the general number can match up with any particular individual's spending pattern.

 

[Benedict A55h0le]

That's your personal inflation and this has always been true in every country. There is no way the general number can match up with any particular individual's spending pattern.

SA inflation is the for the poor class only, inflation for the middle class is like double the inflation of the poor class. In SA a 15% yearly increase is a low increase.

 

[Lupus]

Unfortunately a myth still believed by many.

Sadly many within the government. Yet I mean you look at other countries with repo rates in the low region and their inflation isn't so bad. Than you look at Zimbabwe where the repo rate is 16 to 41%... Yup definitely helps inflation

 

[Senor]

That's your personal inflation and this has always been true in every country. There is no way the general number can match up with any particular individual's spending pattern.

True, sure wish employers would see it that way though!

 

[Gtx Gaming]

EU countries wish there inflation was as low as ours

 

[Lupus]

EU countries wish there inflation was as low as ours

Yeah right now, with their rising energy costs.

 

[rvZA]

EU countries wish there inflation was as low as ours

Same in the US.

The only difference between all of them and South Africa, is that this inflation is pretty much new to them, the brunt of which they are only experiencing now - and it is all self-inflicted, pretty much like here in SA. We had this the past 20 years on a continuous basis. You cannot compare living costs in South Africa with any other first world country. South Africa is way more expensive.

The truth of the matter is that a Sergeant in the police in America will get much further and make a better living with his $7000 salary than a Sergeant in South Africa would with his R15000 salary, even with current high global inflation.

 

[surface]

Don't worry guys, increase the repo rate, that fights inflation...

property barons on this forum are salivating at prospects of increased repo rate.

 

[dualmeister]

 

[rvZA]

View attachment 1370933

There is no chance for survival for South Africa. It's fate is sealed. No matter what who says, no matter what who thinks. If you want to have a future to make a decent living you need to find a way to flee this country. This is the reality. The past 20 years have proven it.

 

[The_Right_Honourable_Brit]

UK inflation set to hit 18% next year - SA is still doing well, relatively speaking. Developed countries have been used to low single-digit inflation for years...these high inflation rates are a real shock to them.