Latest news with #May2024
Zawya
2 days ago
- Business
- Zawya
South Africa: Beef, oils, and vegetables lead rise in food costs despite stable inflation
Consumer price inflation was 2,8% in May, unchanged from 2,8% in April. The consumer price index (CPI) increased by 0,2% between April and May reveals Stats SA. Food & non-alcoholic beverages (NAB) is the only category that contributed to the monthly increase in the CPI. The monthly change in food & NAB was 1,1%, following a 1,3% rise in April. The annual rate for the category increased to 4,8% from 4,0% in April, the highest print since March 2024 when the rate was 5,1%. Beef continues to push meat inflation higher Meat, specifically beef, is a key factor behind the rise in food inflation. The annual rate for meat jumped from 3,0% in April to 4,4% in May. In April, monthly increases for beef products ranged from 6,2% to 11,9%. In May, notable monthly increases were recorded for beef steak (up 4,5%), stewing beef (up 2,5%) and beef mince (up 1,7%). A widespread outbreak of foot-and-mouth disease, combined with higher feed prices, contributed to the rise in beef inflation. The fish and other seafood category recorded an annual increase of 4,9% in May, up from 4,8% in April. Hake is 9,1% and fish fingers 6,1% more expensive than a year ago. Image by Steve Buissinne from Pixabay The annual rate for oils & fats was 5,6%, the highest since April 2023 (10,0%). Sunflower oil recorded an annual increase of 7,6% and brick margarine 7,9%. Vegetable prices tend to be highly volatile, depending on seasonal factors. The annual rate for the category was 10,3% in May, up from a recent low of -2,6% in November 2024. The rate in May is the highest since January 2024, when it was 12,6%. High annual increases were recorded for beetroot (64,0%), lettuce (20,9%) and carrots (13,4%). Maize meal and samp continue to record high price increases. The annual rate for cereal products was 4,5% in May, with double-digit inflation registered for maize meal (14,2%) and samp (20,6%). Most wheat-based products are experiencing low inflation rates, aside from biscuits. Savoury biscuits witnessed a monthly increase of 2,2%, taking the annual rate to 12,5%. Sweet biscuits saw a monthly rise of 1,5% and an annual increase of 6,4%. Stubbornly high inflation rates for hot beverages may be subsiding. This index was unchanged between April and May. The annual increase slowed to 12,4% from 15,2% in April. This is the lowest year-on-year rate since April 2024 when it was 11,4%. The graphs below show food and beverage products that registered notable price changes in May. Other notable price changes Services provided by electricians are surveyed twice a year in May and November. These services recorded a monthly and annual increase of 7,9%. Fuel prices dropped by 1,1% between April and May, pulling the annual rate down to ‑14,9%. This is the largest annual decrease for fuel since October 2024 when the rate was -19,1%. Petrol is 15,9% and diesel 12,6% cheaper than a year ago. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
The Herald
3 days ago
- Business
- The Herald
Inflation steady as Reserve Bank pushes for lower target
The inflation rate was steady in May, staying below the SA Reserve Bank's 3% to 6% target range as it pushes for the target to be lowered. Headline consumer inflation stood at 2.8% year on year last month, unchanged from April and in line with the median forecast of economists polled by Reuters. SARB, which has cut interest rates at four of its last five policy meetings, stressed its preference for a lower target at its last meeting. The finance minister would need to sign off on changing the inflation target, but discussions are at an advanced stage, governor Lesetja Kganyago said last month. Inflation has been below the midpoint of the target range — the current level the SARB aims for — since August 2024, and the bank believes lowering the target would make the economy more competitive. Analysts agree. 'From the SARB's perspective this will be the ideal time to proceed with the lower inflation target, using current well-behaved inflation to anchor future expectations,' said Razia Khan, chief economist for Africa and the Middle East at Standard Chartered. Danny Greeff, co-head of Africa at ETM Analytics, said a lower target 'could foster structurally lower inflation and interest rates over time, benefiting both the demand and supply sides of the economy'. Annual core inflation, which strips out volatile items like food and energy, came in at 3.0% in May, the same as the previous month and below analysts' expectations. Reuters
Fox News
3 days ago
- Business
- Fox News
Fox News Digital tops competing news brands in key metrics during May, dominates YouTube
Fox News Digital finished May with its second-best month ever among total digital multiplatform unique visitors, reaching 134 million people and delivering significant year-over-year growth as Americans continue to rely on the trusted news source for information and analysis. Fox News Digital grew 34% compared to May 2024 while CNN settled for 86 million unique visitors, an 18% drop from last year, and The New York Times delivered 71 million, for a 9% drop. Fox News Digital finished No. 1 among the competitive news set that includes The New York Times, CNN, CBS News, NBC News, ABC News, Washington Post, USA Today and others, in both multiplatform minutes and views during the busy month. Fox News Digital drove 3.8 billion multiplatform minutes in May for an 18% increase compared to last year. It was the 51st consecutive month that Fox News Digital finished atop the key measurable. CNN finished second with 1.4 billion multiplatform minutes while shedding 32% compared to last year, and The New York Times finished third with 1.2 billion and a 28% decline from last year. Throughout May, Fox News Digital delivered 1.8 billion multiplatform views, a 4% uptick from last year, to finish No. 1 in the category for the 13th straight month. The Times finished second with 1.5 billion multiplatform views, dropping 9% compared to last year in the process, while CNN finished third with 857 million multiplatform views for a 28% drop versus last year. Fox News Digital averaged 2.9 average views per visit to finish No. 1 in that category, too. Along the way, Fox News Digital surpassed NBC News and ABC News across the board during May. On YouTube, Fox News scored 362 million video views, more than tripling ABC News and NBC News and topping MSNBC by more than 64 million views, according to Emplifi. It also more than quintupled CBS News' 54 million views for the month. Compared to last year, Fox News grew 98% in YouTube video views and the newly launched Fox News Clips platform attracted nearly 30 million views during May in its first month on YouTube. Fox News Mobile App had 6.3 million unique visitors, up 9% compared to last year. CNN's mobile app managed 4.8 million unique visitors for a 12% decline compared to last year. Fox News was also the most engaged news brand on social media in May, with 82.7 million total social interactions, up 213% from last year. It delivered 61.3 million interactions on Facebook, 18.2 million Instagram interactions and 3.1 million X interactions, according to Emplifi. The success helped Fox News secure more than one billion social video views across Facebook, Instagram, X and TikTok for the fourth time ever. Fox News Digital, CBS News, NBC News, The Washington Post and ABC News have opted in to account for Social Incremental in total digital multi-platform unique visitors, while brands like CNN and The New York Times have not opted in. Digital data courtesy of Comscore.
Reuters
4 days ago
- Business
- Reuters
South African inflation steady in May, as expected
JOHANNESBURG, June 18 (Reuters) - South Africa's headline inflation rate remained at 2.8% year on year in May, unchanged from the previous month (ZACPIY=ECI), opens new tab as expected by analysts, statistics agency data showed, opens new tab on Wednesday. Inflation has been below the midpoint of the central bank's 3% to 6% target range since August 2024, allowing the South African Reserve Bank (SARB) to cut interest rates at four of its last five policy meetings. Last month the SARB cut its main lending rate by 25 basis points to 7.25% (ZAREPO=ECI), opens new tab. It also lowered its inflation and economic growth forecasts for this year and next, stressing its preference for a lower inflation target. In month-on-month terms inflation was at 0.2% in May, compared with 0.3% in April (ZACPI=ECI), opens new tab, data showed on Wednesday.
Yahoo
5 days ago
- Entertainment
- Yahoo
In-Laws Want to Take Child to First Major Sporting Event, But Mom Doesn't Want to Share the 'Sentimental' Moment
A first-time mom is worried her mother-in-law is stealing all her child's "firsts" In a post published on Reddit, the woman writes that her mother-in-law keeps overstepping, and now she's planned an elaborate first birthday experience for the child But the woman wants to celebrate the child's first birthday with just her and her husband, and is now asking the internet for helpA woman says her mother-in-law wants to take her son to his first big sporting event — but she wants to be the one to share the experience with the child. In a Reddit post, the woman writes that she and her husband welcomed the boy in May 2024, and he's their first child. "All of his 'firsts' have been sacred to me (ie zoo trip, aquarium visit, pic w/Santa, Easter basket etc)," she writes. But her mother-in-law is constantly overstepping her boundaries, she adds. The very first time the couple left the then four-week-old child with the woman for a lunch date, she invited a friend along without asking. She also "orchestrated her own 'baby's first Christmas' photoshoot. And yes, she posted those pics to social media." Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. "Of course, no mention of this to me. I asked my husband to step in, he said he didn't see the big deal," she continues. Now, the couple is about to celebrate the child's first birthday, and both her mother- and father-in-law want to treat them all to a major sporting event — "an all inclusive type of experience, very expensive, very generous. And I am grateful," she writes. "However, I do not want to attend his first major event with anyone. Specifically because this is a sentimental event to me," she continues. "Growing up my family followed this team every summer, often turning our family vacations into opportunities to watch them play in different cities. I have made it clear that I am very excited to attend the game with my in-laws and am excited to celebrate his birthday with them. But for sentimental reasons I desperately want to attend his first game with just the 3 of us." She continues: "I've tried to get my husband to understand my perspective, but he refuses. It honestly feels like my feelings, specifically as my son's mother, are being ignored and that hurts the most. Am I over reacting? Do I just go to the game and shut up? Or do I put up a fight to attend a game with just our family of 3 first?" Other Reddit users say the woman might need to remove some of the pressures she's created around her child's "firsts." "It sounds like you're trying to establish your own family separate from them. You feel encroached on regularly (even if it's well intentioned). What I hear is that being a mom is so important to you and you're worried that these special firsts will be taken from you," writes one. The commenter adds: "But here is the secret: the most precious times don't happen on the first trip to the pumpkin patch or ball game. They happen in the everyday mundane. The quiet in the morning when he spots a bird for the first time in the backyard when you're letting the dog out, the way he looks when he first wakes up and smiles at you. These are the times that are actually the precious ones…and they are all yours." Read the original article on People
