The Consumer Price Index (CPI) and Producer Price Index (PPI) are the two primary measures of inflation for South Africa. Both indicators are published on a monthly basis.The Consumer Price Index tracks the rate of change in the prices of goods and services purchased by consumers. The headline CPI is used as the inflation target measure which guides the South African Reserve Bank on the setting of interest rates.
The Producer Price Index tracks the rate of change in the prices charged by producers of goods. Stats SA publishes PPIs for different industries with the PPI for final manufactured goods being the headline PPI. Additional PPIs are compiled for Agriculture, forestry and fishing; Mining and quarrying; Electricity and water; Intermediate manufactured goods; Imports and Exports; and Construction.
The PPI is widely used by businesses as a contract escalator and as a general indicator of inflationary pressures in the economy.
The total number of jobs reported in the first quarter showed an increase of 56 000 from the previous quarter, bringing the total number of persons employed in the formal non-agricultural sector to 9 838 000. According to the figures from the Quarterly Employment Statistics (QES) Survey, formal sector jobs rose year-on-year by 74 000 in the first quarter read more »