Misinformation and hearsay have the power to influence an economy. Thousands of civil servants resigned from their posts in 2014 and early 2015 in response to rumours about proposed pension reforms. The economic effect was large enough to be seen in recent gross domestic product (GDP) data released by Stats SA. The government services sector   read more »

If you drive a car or enjoy a regular glass of wine, February’s National Budget Speech would have had an impact on your cost of living. The rise in sin taxes and petrol levies announced during the speech influenced prices for alcoholic beverages and petrol, contributing to April’s overall inflation rate of 4,5%. The Minister   read more »

It is often said that an investment in knowledge pays the best interest. A good education is worth its weight in gold, but recent figures released by Stats SA indicate that South African households will have to make more room in their budgets to pay for rising tuition fees. Stats SA updates education inflation figures   read more »

Changing fuel prices affect us all. With the recent downward trend in prices seemingly coming to an end, South Africans are again left wondering how the petrol price will affect their pockets. Consumer inflation data released today1 provide an indication of the impact that the recent period of low petrol prices had on the cost   read more »

Headline producer inflation, which measures the change in prices of final manufactured goods, has continued to decline. The annual rate fell to 3,5% in January 2015, down from 5,8% in December 2014 and a peak of 8,8% in April 2014. Falling prices for coal and petroleum products continued to drive producer inflation down, while higher   read more »

South Africa’s economy grew by 1,5% in 2014, down from 2,2% in 2013, according to preliminary estimates of real gross domestic product (GDP) released by Stats SA. Eight of the ten industry groups experienced some growth during the year, while two industries shrank in size. The industry that grew the fastest in 2014 was agriculture1,   read more »

Business was more favourable during the recent Christmas season when compared with December 2013, with retail sales increasing by 3,4% in real terms. However, despite better sales during the festive period, the longer-term pattern reveals a slowdown in growth over the last three years. After falling by 3,2% in real terms in 2009 (largely the   read more »

Annual CPI inflation dropped to 4,4% in January 2015 from 5,3% in December 2014, the lowest since April 2011, when the CPI stood at 4,2%. Key drivers pulling the CPI down were petrol and food. The 127c/l drop in the price of petrol in January further contributed to the decline in the CPI for petrol,   read more »

Mining production decreased by 1,5% in 2014 compared with 2013. The negative outcome was largely the result of declines in platinum group metals (PGMs) (‑28,7%) and gold (‑5,1%). Iron ore production grew by 12,6% in 2014 and coal grew by 2,0%. The sharp decline in PGMs in 2014 was the result of widespread strikes in   read more »

South Africa’s manufacturing industry is dominated by three sectors, namely food & beverages, petroleum & chemical products1, and metals & machinery2. Together these three sectors account for two thirds of total manufacturing production. Manufacturing production showed very little change in 2014 compared with 2013. Stats SA’s preliminary estimate recorded a slight contraction of 0,1%, following   read more »