Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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It looks like inflation is beginning to trend up again. The current inflation figure is 5,6% but the Reserve Bank has revised its inflation forecast and expects inflation to remain at 5,7% in the first three months of this year and to average 5,5% for the rest of the year. That sounds like a drop, but the Reserve Bank’s estimate previously for the rest of the year was 5,2%, so the estimate has been revised upwards.
It does not appear that interest rates are going up, either in South Africa or the rest of the world, and most probably until late 2013 or in 2014. So, now really is the time to pay off those debts before the interest rate cycle starts turning again, as it will eventually. With inflation currently at 5,7%, and heading down to 5,5%, that is going to be the figure that many employers look at when calculating their annual staff salaries.
Posted by Michael de Broglio on Tuesday 12-Feb-13
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Comments
benita said:
on Wednesday 13-Feb-13 09:00 AM
It's no suprise that so few people can afford cost of living these days.
Cherise said:
on Tuesday 12-Feb-13 03:00 PM
very intersting factors to take into consideration. the price of food these days have become extremelly rediculous never mind peoples debt that never seem to end and they end up paying debt with debt
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
