Food inflation slows, but joblessness continues unabated

THE inflation rate fell for a second straight month in November as food prices climbed at the slowest pace in two years. Inflation slowed to 4.6% from 4.8% in October, Stats SA said.

PRESIDENT Jacob Zuma must establish a judicial commission of inquiry within 30 days, the High Court in Pretoria ordered. A full bench of the court dismissed his application to set aside and review the former public protector’s remedial action in the State of Capture report.

MANUFACTURING production got the final quarter of 2017 off to a good start, posting growth of 2.2% for October from a year earlier after a revised 1.7% year-on-year contraction in September. Compared with September, production was up 0.7%.

TRACTOR sales leapt 24.9% year on year in November to 566 units, the South African Agricultural Machinery Association said. MORE people are out of work, for the third straight quarter. Stats SA said the formal nonagricultural sector shed 31 000 jobs in the third quarter. This followed losses of 41 000 in March and 31 000 in June.

THE retail sector did not do as well as expected in October, although it still signalled stronger economic growth at the start of the fourth quarter. Annual retail trade sales growth slowed to 3.2% in October from 5.4% in September, Stats SA reported.

THE current account deficit narrowed less than expected in the third quarter, to 2.3% of GDP from 2.4% the previous quarter, according to the Reserve Bank’s Quarterly Bulletin.

THE domestic coal market was in “chaos”, commentators said, as strong demand from Eskom and industrial customers competed with unexpected global demand.