Wednesday, 26th November 2008 at 6:45 pm
Inflation down to 12.4%

Some good news for consumers, Inflation came in at 12.4% in the month of October compared to its 13% level for September 2008. This could just signal that a rate cut may not be too far away. Inflation hit a peak of 13.6% in August but now it looks like it is starting to head towards the central banks target of having inflation being between 3 - 6%. But still this rate of 12.4% is relatively high but there is hope it can decline further in December and January when the fuel prices are expected to come down. So now it is just a matter of waiting to find out if the central bank decides to cut interest rates next month. That would surely be a great Christmas present for consumers in South Africa.

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Comments

Yes2Property on 4 December, 2008 at 7:31 am #

All the good news at the end of the year gives me hope for the next.

If all goes well next year we will see the markets settling before 2010.


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