Economy

Encouraging drop in services inflation in April 2024

A view on today’s inflation release and the impact on the next interest rate decision

A minor 0.1% miss on expected inflation figures resulted in a relatively subdued response from financial markets to Statistics South Africa’s (SA) latest consumer price inflation report for April.

Old Mutual forecasts inflation to remain unchanged

As South Africa gears up for the release of StatsSA’s April's inflation figures on Wednesday 22 May, there's a sense of anticipation and concern.

QLFS: Jobs regain some momentum in 1Q24

The Quarterly Labour Force Survey (QLFS) data, a household-based employment survey not seasonally adjusted, revealed a resurgence in employment momentum in the first quarter of this year. Employment increased by 21 555 q/q (or 0.1% q/q), rebounding from a decline of 21 587 in 4Q23. However, the unemployment level surged by 330 454 q/q (4.2% q/q) to reach 8,225,889, reflecting a significant influx of new entrants into the labour market. Consequently, the official unemployment rate rose to 32.9% from 32.1%.