In many ways, tomorrow's mini-budget will sound like a feel-good budget. There are a handful of uncertainties, but numerous indicators look good, and the questions are about how the Minister will use the leeway he has.

* The Economics Minute is supported by the NWU Business School.

This week, the Minister of Finance presents the Medium-term Budget Policy Statement to Parliament. This is also known as the mini-budget and there are a few important things I would like to talk about. What is the mini-budget? What do you need to listen up for?

* The Economics Minute is supported by the NWU Business School.

Hierdie week lê die Minister van Finansies die medium-termyn begrotingsbeleidsraamwerk aan die Parlement voor. Dit is ook bekend as die mini-begroting en daar is ʼn paar belangrike dinge waaroor ek graag wil gesels. Wat is die mini-begroting? Waarna moet jy luister wanneer die Minister praat?

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

Ek het hierdie week so baie oor inflasie gepraat dat ek so wil afsluit, maar dit is ʼn tegniese een. Greg Mankiw het ʼn interessante blog inskrywing oor Amerikaanse inflasie en sy kommer dat die Federale Reserwebank dalk te streng optree. Dit laat mens ook dink oor die volgende repokoersbesluit hier in Suid-Afrika.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

I have talked so much about inflation this week that I want to end with one more, but it gets technical. Greg Mankiw has an interesting blog entry about US inflation and his concern that the Federal Reserve may be tightening too much. It also makes one think about the next repo rate decision here in South Africa.

* The Economics Minute is supported by the NWU Business School.

I am happy to say that the consensus forecast by economists was wrong and that September's consumer price inflation rate was indeed a little lower. Just a little bit. The year-on-year rate decreased from 7.6% to 7.5%. Month-on-month there was unfortunately a 0.1% increase which shows that there is still a lot of pressure on prices.

* The Economics Minute is supported by the NWU Business School.

Ek is bly om te sê dat ekonome se konsensusvoorspelling verkeerd was en dat Septembermaand se verbruikersprys inflasiekoers toe wel ʼn bietjie laer was. Net ʼn klein bietjie. Die jaar-op-jaar koers het afgeneem van 7,6% tot 7,5%. Maand-op-maand was daar ongelukkig ʼn 0,1% toename wat wys dat daar nog heelwat druk is op pryse.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

One of the dangers of high inflation is that high prices are on our minds. We think and talk about how expensive everything has become and before long it affects the inflation rate we expect for next month and next year. Then you raise the prices at your business, or ask your boss for a big increase, and if everyone does that we just feed the inflation monster. Research shows that this is not just a story that economists tell.

* The Economics Minute is supported by the NWU Business School.

Een van die gevare van hoë inflasie is dat hoë pryse voorop in ons gedagtes is. Ons dink en praat oor hoe duur alles geword het en kort voor lank beïnvloed dit die inflasiekoers wat ons vir volgende maand en volgende jaar verwag. Dan verhoog jy die pryse by jou besigheid, of vra jou baas vir ʼn groot verhoging, en as almal dit doen voer ons net die inflasie-monster. Navorsing wys dat hierdie is nie net ʼn storie wat ekonome vertel nie.

* Die Ekonomie Minuut word ondersteun deur die NWU Sakeskool.

This week's economic indicator is September's consumer price inflation figure that is announced on Wednesday. The Bureau of Economic Research's weekly newsletter gives a good breakdown of the factors that play a role and what this means for the Reserve Bank's next repo rate decision.

* The Economics Minute is supported by the NWU Business School.