JOHANNESBURG, July 20 – South Africa’s targeted consumer inflation quickened to its highest level in 15 months in June, data showed on Wednesday, but this was in line with market expectations and not likely to persuade the Reserve Bank against leaving interest rates unchanged. CPI quickened to 5.0 percent year-on-year in June — bang in line with forecasts– from 4.6 percent in May, and slowed as expected to 0.4 percent month-on-month from 0.5 percent, Statistics South Africa data showed. Food inflation remained the main driver of the increase in overall CPI, rising to 7.1 percent year-on-year from 6.1 percent in May.
Source: Reuters Africa newsletter
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