Inflation now at 6.9%

By Staff Writer

Inflation has been falling and is at 6.9% as of the 29th of July 2009, this is 1.1% down on the previous figures. In other data unemployment is up, less credit is being extended and GDP is expected to contract. Scary news but at least the inflation beast appears to be coming under control. With the economy not expected to look up anytime soon planning for the future becomes imperative, to see you through the lean times ahead. Inflation was influenced by these major factors:

 

  • Food decreased by 0.3%
  • Transport increased by 0.5%
  • Gauteng inflation lowest in country at 6.4%

 

With an ongoing investigation into the supermarkets perhaps we will see a reduction in food price inflation. Food prices affect everybody but have the most impact on the poor. When food price inflation is taken into account it is easy to see why people are prepared to strike. If you can't feed your family as much as last year due to high inflation people become desperate and take more militant action than they perhaps would otherwise. Food price inflation is slowing but still not as quickly as everything else.

Many historians link the start of the French Revolution to bread prices. The bread cartels have been fined, but bread is still expensive and pap, our staple, is also expensive. Inflation is the measure of price increases and with a faltering economy food security becomes more important. Planning a budget and sticking to it can help you to make sure that you have enough money left to feed yourself and your family come the last week of the month. These inflation figures are encouraging even if it is only for a little bit of light at the end of the tunnel.

Recent Articles

Featured Are you ready to just tap and go when you pay?

The integration of the tap and go system has revolutionised the way consumers make payments. Instead of having to insert or swipe your card, you are now able to simply tap and have the payment registered almost instantaneously. But how safe is this?

Read more

Debt consolidation – Explained

Dealing with debt can be daunting. If you’re struggling to keep track of which store account to pay next and weighing up which credit card is more important to settle first, you may have considered debt consolation. At Justmoney, we’ve decided to get down to the basics and explain what this entails and what impact you can anticipate on your credit score.  

Read more

3 Vehicle financing options compared – which is cheaper?

Buying a car is a considered a milestone, both in life and financially. Unless you’re able to fork out the cash, many opt for financing. But often the excitement to drive it off the showroom floor overshadows the need to check if you’re choosing the most-suited option. To help you make the best-informed decision we compare available vehicle financing structures in South Africa.

Read more

Splitwise: Split the bill not the friendship

Collecting your friends’ debt to you can be draining. You don’t want to ruin your friendship with them, and it can also be extremely awkward. I don’t know how many times I have written, deleted, and rephrased texts, reminding people to pay what is due to me.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Save with 10X investments

Price: Free
When: Until 30 June
Where: Online

Sanlam Cumulus Investment Plan Limited Offer

Price: From R2,500
When: Limited Period
Where: Nationwide

Roman's Pizza Special - Any Single Large Pizza

Price: R69.90
When: Until 31 July
Where: Nationwide