- The South African headline inflation rate in December 2009 has gone up to 6.3 percent and it is higher than the targeted range by the central bank.
According to figures released by Statistics SA today, the inflation rate for the period is higher by 0.5 of a percentage point from that of the previous month in the same year.
“The official inflation rate (i.e. the percentage change in the CPI for all urban areas in December 2009 compared with that in December 2008) was 6,3 percent at December 2009. This rate was 0,5 of a percentage point higher than the corresponding annual rate of 5,8 percent in November 2009,” the government statistics’ agency said.
Stats SA further stated that from November 2009 to December 2009 the Consumer Price Index for all urban areas increased by 0,3 of a percentage point.
Yesterday the South African Reserve Bank announced a stay in the repurchase rate at 7 percent, having made a cut for about six times since December 2008 to late last year as the economy experienced a slow into a full recession.
The repo rate has not been changed since September last year, when the policy decision in South Africa had to balance the effects of the economic meltdown with the stress on demand and production figures.
Many economists have applauded the decision of the Monetary Policy Committee (MPC) to leave the repurchase rate unchanged, saying this would guard against the aftershocks of the recession.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
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