Inflation edges higher

2010-01-27 12:13

Consumer price inflation (CPI) edged higher last month, rising

above the SA Reserve Bank’s inflation target ceiling, Statistics SA said on


According to the Pretoria-based agency, last month’s CPI rose to

6.3% year-on-year from 5.8% year-on-year in November.

This was in line with economists’ forecasts.

On Tuesday SA Reserve Bank governor Gill Marcus said forecasts

indicated that inflation could measure about 6.5 % both last month and this

month, before moderating in the subsequent months.

Marcus said that in line with market forecasts, inflation was

expected to return to within the inflation target range of 3 to 6% on a

sustained basis in March.

It should then remain within the target range until the end of the

forecast period in the final quarter of next year, when it was forecast to

average 5.4%.

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