The fuel price reduction is not yet expected to be sufficient to stop an anticipated weakening in commercial property demand in the 2nd half of 2022, as lagged direct and indirect impacts from earlier fuel price hikes feed through.

It is well-known that the cumulative fuel price increase has added significantly to overall consumer price inflation, and this further increase sustains this pressure.

As anticipated, the MPC kept the repo rate steady, taking a conservative approach against the backdrop of rising fuel prices, and with a wary eye on CPI inflation, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Government will in the 2019/20 financial year again increase excise duties on alcohol and tobacco in an effort to raise much-needed revenue for the national fiscus, Finance Minister Tito Mboweni said on Wednesday.

Residential property market sentiment in South Africa increased over a wide front in the final quarter of 2018 on the back of an improved economic performance.

“South Africa’s residential market is in for an interesting time in 2019, but our predictions for the year are all positive, and we believe that home buyers and investors who take the plunge and buy early will be well-rewarded.”

Today’s October CPI (Consumer Price Index) showed a slight acceleration in its year-on-year inflation rate, from 4.9% in the previous month to 5.1%.