JOHANNESBURG, Dec 14 – South Africa’s targeted consumer inflation breached the central bank’s 3-6 percent target in November as expected, complicating the Reserve Bank’s strategy to keep it in check by raising rates when growth is expected to be weak.
November consumer inflation quickened to 6.1 percent year-on-year, from 6.0 percent in October, a level last seen in January 2010, Statistics South Africa said on Wednesday.
Economists surveyed by Reuters had expected headline year-on-year inflation to accelerate to 6.2 percent and slow to 0.3 on a monthly basis.
Source: Reuters Africa newsletter
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