Inflation | - Part 2

South African Inflation Rate Falls to Six-Month Low in March

JOHANNESBURG (Capital Market in Africa) – South Africa’s inflation rate fell to a six-month low in March after food prices climbed at the slowest rate in 13 months. Consumer inflation eased to 6.1 percent from 6.3 percent in February, Statistics South Africa said in a report released Wednesday in the capital, Pretoria. The median estimate of 15 economists surveyed by Bloomberg was for 6.3 percent. Prices climbed 0.6 percent in the month. The central bank’s Monetary Policy…

Kenyan Inflation Jumps to Five-Year High as Drought Bites

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NAIROBI (Capital Markets in Africa) -Kenya’s annual inflation rate accelerated to its highest level in almost five years as an ongoing drought compounds price pressures. Consumer prices surged 10.3 percent in March from 9 percent in February, the Kenya National Bureau of Statistics said in a statement emailed from the capital, Nairobi, when they broke through the Central Bank of Kenya’s 7.5 percent ceiling. The rate is the highest since June 2012 when inflation registered at…

Nigeria’s inflation slows after fifteen months in February

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LAGOS (Capital Markets in Africa) – Inflation in February accelerated at a slower pace to 17.87% YoY (January: 18.72% YoY; Consensus Estimate: 17.32% YoY), with prices pulling back after fifteen months of consecutive increase. Whilst the rise in food prices remained strong in February at 18.53% YoY, the “All Items Less Farm Produce Index” ( a proxy for core inflation) provided the buffer for the headline CPI, moderating for the third consecutive month to 16.01%…

Ghana Leaves Key Rate Steady as Policy Makers Seek Stable Cedi

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ACCRA (Capital Markets in Africa) – Ghana’s central bank unexpectedly kept its benchmark rate unchanged as it balanced the risks to inflation and economic growth. The Bank of Ghana’s Monetary Policy Committee left the rate at 25.5 percent, Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra. Only two of six economists in a Bloomberg survey said the central bank would keep borrowing costs unchanged, while the remaining four predicted a rate cut of 50 to…

South Africa Inflation at 10-Month High as Food Costs Surge

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JOHANNESBURG (Capital Markets in Africa) – South African consumer-price growth quickened in December as food costs surged, complicating the central bank’s task less than a week before it will decide on borrowing costs. Inflation accelerated to a 10-month high of 6.8 percent from 6.6 percent in November, Statistics South Africa said in a report released Wednesday in the capital, Pretoria. The median estimate of 24 economists surveyed by Bloomberg was for inflation of 6.5 percent. Prices rose 0.4 percent in…

Egypt Core Inflation Nears 12-Year High After Pound Slumps

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CAIRO (Capital Markets in Africa) – An Egyptian consumer price gauge that strips out volatile items rose the fastest in almost 12 years in December, after the central bank abandoned currency controls and triggered a slump in the pound. Annual core inflation climbed to 25.86 percent, its highest level since February 2005, according to data compiled by Bloomberg. Earlier, the state-run statistics agency reported that annual urban inflation accelerated to 23.3 percent in December, its highest since Bloomberg started…

Egypt’s inflation reaches highest level since 2008, to further increases

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CAIRO (Capital Markets in Africa) – Annual inflation has reached its highest point in eight years, increasing to 20.2 percent in comparison to the figures posted in November 2015. Monthly inflation has also produced a noticeable spike, increasing to 5 percent, according to data published by the Central Agency for Public Mobilization and Statistics on Thursday. November’s annual core inflation rate – which represents long-term price trends, excluding volatile items – surged to 20.73 percent, up from…

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