CPI slows to 6% in July bringing it within the Reserve Bank’s target

Details

statssaBDLive reports that consumer inflation slowed in July, with the consumer price index (CPI) rising 6% year on year, from 6.3% in May.  

That was a little better than expected and brings consumer inflation just within the Reserve Bank’s 3%-6% target.  Month on month, though, CPI inflation accelerated to 0.8% in July, compared with a 0.6% increase in CPI in June from May, Statistics SA data showed on Wednesday.  An improving inflation outlook, supported by a firmer rand and pedestrian growth, strengthen the case for the Reserve Bank to keep interest rates unchanged.


Get other news reports at the SA Labour News home page