{"id":93167,"date":"2025-11-19T18:54:05","date_gmt":"2025-11-19T18:54:05","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-begins-new-era-on-the-backfoot"},"modified":"2025-11-19T18:59:37","modified_gmt":"2025-11-19T18:59:37","slug":"south-africa-begins-new-era-on-the-backfoot","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-begins-new-era-on-the-backfoot","title":{"rendered":"South Africa begins new era on the backfoot"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South African annual inflation accelerated less than expected on the eve of a widely expected interest-rate cut.<\/p>\n

Consumer prices rose 3.6% in October, compared with a 3.4% increase a month earlier, Pretoria-based Statistics South Africa said in a statement on its website on Wednesday.<\/p>\n

The median estimate of 14 economists in a Bloomberg survey was 3.7%. Prices climbed 0.1% in the month, against forecasts for a 0.2% rise.<\/p>\n

Most economists in a separate Bloomberg survey conducted before Wednesday\u2019s data release predicted the central bank\u2019s monetary policy committee will resume its easing cycle on Thursday, after South Africa\u2019s National Treasury last week formally adopted the monetary authority\u2019s new 3% inflation target in its medium-term budget.<\/p>\n

The MPC\u2019s previous 3%-to-6% target range had been in place for a quarter of a century.<\/p>\n

Traders maintained bets on a a cut at the MPC\u2019s last meeting of the year on Thursday, with forward-rate agreements pricing in a 72% probability of a 25 basis-point cut.<\/p>\n

The Treasury\u2019s endorsement gives \u201cstrength to the signal\u201d that the country is moving toward a lower inflation norm, Keabetswe Mojapelo, macroeconomist at Rand Merchant Bank, said before Wednesday\u2019s data.<\/p>\n

\u201cThat alignment should help guide expectations down over time and increase the likelihood of a 25 basis-point cut\u201d this week to 6.75%, he said.<\/p>\n

Finance Minister Enoch Godongwana said last week \u201cthe new target will anchor inflation at permanently lower levels,\u201d and \u201creduce the cost of living and borrowing costs.\u201d<\/p>\n

Prices for the transport, recreation, sport & culture, and alcoholic beverages and tobacco categories increased at faster rates, Stats SA said. The annual rate for transport turned positive after 13 months of deflation because of higher fuel prices.<\/p>\n

Inflation cooled for several categories, most notably food and non-alcoholic beverages, easing to 3.9% from 4.5% as vegetables, fruits & nuts and sugar prices softened.<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South African annual inflation accelerated less than expected on the eve of a widely expected interest-rate cut. Consumer prices rose 3.6% in October, compared with a 3.4% increase a month earlier, Pretoria-based Statistics South Africa said in a statement on its website on Wednesday. The median estimate of 14 economists in a […]<\/p>\n","protected":false},"author":84,"featured_media":93166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[275],"class_list":["post-93167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-africa-2"],"yoast_head":"\nSouth Africa begins new era on the backfoot - South Africa<\/title>\n<meta name=\"description\" content=\"South African annual inflation accelerated less than expected on the eve of a widely expected interest-rate cut. 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