Business

The rand has massively underperformed over the past week, breaching the psychological R19.00/US$1 level on Thursday (11 May). Even on a YTD and one-year basis, the local currency’s performance has been disappointing.

A census conducted by Stats SA to measure the socioeconomic impact of investments in the SEZ, indicated a 9% increase in annualised income between July 2020 and July 2021.

According to findings contained in its latest Essential Food Pricing Monitoring report, covering 2021 to 2022, white and brown bread retail prices increased by 20 and 19 % respectively.

The main reason for the increase in inflation is the depreciation of the rand which is now affecting import prices. The core inflation rate, which excludes food and fuel, went up by 3% to 5.2% and that is a warning sign that more general inflation pressures started building up during the course of February, which is quite unfortunate but expected, given the steep fall of the rand.

The NMB Business Chamber has signed a memorandum of understanding with the Municipality so that they can collectively tackle challenges facing the Metro

The Border-Kei Business Chamber says Nersa's approval of an 18.65% increase in electricity tariffs is ridiculous.

South Africa's new vehicle market ended 2022 on a high, with December's new vehicle sales registering their twelfth consecutive month of year-on-year growth.

South African consumers can expect an expensive braai season this December with the inflation of meat at its highest level since November 2017 when it reached 14.9%. This is according to FNB's Agri-Business senior agricultural economist, Paul Makube.

Agri SA has called on government to limit any increase in the National Minimum Wage to an inflation related increase.