Inflation | - Part 3

September’s Inflation Trends Across the Continent

LAGOS (Capital Markets in Africa) – Angola’s inflation quickened to 39.44 percent in September from 38.18 percent in August, data from the national statistics agency showed. Prices increased at a slower pace month-on-month, rising 2.14 percent in September from 3.3 percent the prior month. Key contributors to the rise were food and non-alcoholic beverages; miscellaneous goods and services; clothing and footwear; furnishing and household equipment. Botswana’s consumer inflation quickened to 2.8 percent in September from…

Nigeria Spends to Fight Slump as Emefiele Targets Inflation

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LAGOS, Nigeria, Capital Markets in Africa: Nigeria’s government is looking to spend its way out of an economic slump after the central bank said it can’t bolster growth and is instead targeting inflation with a record interest rate. The government is planning 1.75 trillion naira ($5.6 billion) in capital spending for the year, more than four times the amount spent in 2015, according to information from the budget office. The state has spent 248 billion…

South Africa June Inflation Quickens First Time in Four Months

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Johannesburg, Capital Markets in Africa: South African inflation quickened for the first time in four months in June, complicating the task of the Reserve Bank as it deliberates before announcing its rates decision on Thursday. The inflation rate rose to 6.3 percent from 6.1 percent a month earlier, Pretoria-based Statistics South Africa said on its website on Wednesday. The acceleration was in line with the median of 23 economist estimates compiled by Bloomberg. Prices rose 0.6 percent in the month….

Nigeria Inflation 16.5% in June, Highest in Almost 11 Years

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LAGOS, Capital Markets in Africa: Nigerian inflation accelerated to the highest rate in almost 11 years in June, complicating the task of the central bank in an economy which is at risk of contracting this year. The inflation rate in Africa’s largest economy increased to 16.5 percent from 15.6 in May, the Abuja-based National Bureau of Statistics said in an e-mailed statement on Monday. That’s the highest rate since October 2005, according to data on the Central Bank of…

Slowing South Africa CPI Gives SARB More Room to Pause on Rates

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Johannesburg, South Africa, Capital Markets in Africa: South African inflation unexpectedly slowed for a third month in May as food-price growth decelerated, giving the Reserve Bank room to keep interest rates unchanged to support an economy at risk of falling into recession. The inflation rate dropped to 6.1 percent from 6.2 percent a month earlier, Pretoria-based Statistics South Africa said on its website on Wednesday. The median of 21 economist estimates compiled by Bloomberg was for an acceleration to 6.4…

Ghana’s Inflation Rate touches over-six-year high at 19.2% in March

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Accra, Ghana, Capital Markets in Africa — The outlook for achieving the Bank of Ghana’s medium term inflation target (8% ± 2%) could shift further into late 2017 (from the projected mid-2017) as inflationary pressures remain elevated on the back of high cost-push factors. The year-on-year increase in Ghana’s Consumer Price Index (CPI) shocked expectations with a 70bps surge to 19.2% in Mar-2016. Consequently, average y/y price inflation in Q1-2016 (18.9%) turned out 130bps higher…

Nigeria | The Inflation Conundrum …

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LAGOS, Nigeria, Capital Markets in Africa — The inflation figure for the month of February was recently released by the National Bureau of Statistics. As much as the increase was largely anticipated, the huge gallop to 11.4% came as a surprise as consensus had capped the rise at 10%YoY. The increase in the headline figure was attributed to faster increases in prices across all major divisions except Restaurant and Hotels division. The Food and Core…

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