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Thursday, 25 June 2009

Current SA inflation - May 2009

Percentage unknowing real value destruction by SA accountants in constant items never maintained since

Jan 1981

93.2%

April 1994

61.9%

May 2008

8.0%

Example: R3.338 billion of the real value of Retained Earnings have unknowingly been destroyed by ABSA´s accountants implementing the stable measuring units assumption as chosen by their board of directors during their 2008 financial year if they maintain that assumption for an unlimited period of time during indefinite inflation.


Cumulative inflation since Jan 1981

1 360.3%

Cumulative inflation since Apr 1994

162.6%

Annual inflation

8.0%

Source of base data: Statistics South Africa