JOHANNESBURG, May 17 – South Africa’s annual headline inflation came in softer than expected in April, bolstering the view of a minority of analysts who expect interest rates to remain on hold throughout this year.
Statistics South Africa said on Tuesday CPI inflation edged up slightly to 4.2 percent year-on-year in April from 4.1 percent in March. The market was expecting CPI to quicken to 4.4 percent. On a month-on-month basis, CPI slowed to 0.3 percent from 1.2 percent in March, also lower than forecasts of 0.5 percent.
Source: Reuters Africa newsletter
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