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SA's inflation falls to lowest level in nearly 16 years

15 July 2020 6:55 PM
Tags:
Inflation

Economist Ndumiso Hadebe says the impact of the lockdown-induced contraction was anticipated.

The inflation number from Statistics SA came in at 2,1%, the lowest figures since September 2004. Arabile Gumede on The Money Show speaks to independent economist Ndumiso Hadebe to find out if there were any surprises.

We had anticipated that the impact of the lockdown-induced contraction would lead to a dip in respect of the inflationary climate in South Africa today.

Ndumiso Hadebe, Independent economist

What we did not anticipate would be as severe at the beginning of the year was the tanking of oil prices, which subsequently registered a decline in the petrol price by R1,74 which has also fed into the past three inflation outcome that has been registered today for the month of May.

Ndumiso Hadebe, Independent economist

I think an interest rate cut of 25 basis points will be justified.

Ndumiso Hadebe, Independent economist

Listen below for the full interview...


15 July 2020 6:55 PM
Tags:
Inflation

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