Search results
Results from the WOW.Com Content Network
The consumer price index (CPI) is the official measure of inflation in South Africa. One variant, the consumer price index excluding mortgage costs (CPIX), is officially targeted by the South African Reserve Bank [1] and a primary measure that determines national interest rates.
In November 2022, the year-over-year inflation rate was 7.1%, the lowest it has been since December 2021 but still much higher than average. [ 156 ] Inflation is believed to have played a major role in a decline in the approval rating of President Joe Biden , who took office in January 2021, being net negative starting in October of that year ...
Download QR code; Print/export ... Years in Southern Africa: 2021 2022 ... 2024 in South Africa; 2020s; 2020s in political history;
South African inflation surged to a 13-year high in June, data showed on Wednesday, moving further away from the central bank's target the day before an interest rate announcement. Headline ...
In 2021–2022, most countries experienced a considerable increase in inflation, peaking in 2022 and declining in 2023. The causes are believed to be a mixture of demand and supply shocks, whereas inflation expectations generally seem to remain anchored (as per May 2023). [100]
The annual inflation rate had risen to 676% in March 2020, and there was a bleak economic outlook due to the effects of a drought in 2019 and the COVID-19 pandemic. [203] In 2022, the country experienced another period of high inflation, which jumped to 131.7% in May from 96.4% in April. [204]
In March 2024, Nigeria's food inflation rate reached 40.01% year-on-year, driven by currency depreciation, supply chain disruptions, and rising agricultural input costs. Essential food items like garri, millet, and yam tubers saw significant price hikes. This inflation exacerbates food insecurity and reduces household purchasing power. [52]
In 2019, the financial industry contributed US$41.4 billion to South Africa's GDP. [37] In 2021, South Africa-based financial institutions managed more than US$1.41 trillion in assets. [38] The total market capitalization of the Johannesburg Stock Exchange is US$1.28 trillion as of October 2021. [39]