Inflation down and Recession ends - 25th Nov 2009
Not only backed by a lower oil price the inflation rate in South Africa has finally arrived back in the Reserve Bank's target corridor. The consumer price index (CPI) on a year on year basis was announced this morning has fallen to 5.9%.Also this morning Statistics South Africa announced that the Recession has come to an end as the economic growth has returned to a positive 0.9%.
Though this is good news, it does not mean that a big consumer spending can be expected, as a quarter of the population (24.5%) is still unemployed.
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