Recent data shows that inflation has risen from 4.5% to 6.5% in Johannesburg, South Africa. More data shows that the annual trade deficit has risen to R9.4bn. This data shows that another interest rate hike is on the table. Economists are worried that the recent interest hikes will “stunt the longest expansion in SA’s history.” (news24.com)
There has been a major fuel shortage in Africa forcing many buses off the road. This is a problem caused by the government when they ordered cuts of 50% to all prices of goods. The cuts were ordered in an attempt to halt the highest inflation in the world.
The African Rand strengthens against the U.S. dollar , trading at R7.47/%. Many economists believe this is a negative risk because food prices have been a major concern.
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Okay Dan, good start. The next step is to generalize about your news stories. Can you use your stories to come up with some sort of "thesis" about economics and southern Africa?
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