February CPI data stretches Reserve Bank’s comfort zone
Inflation is edging closer to the upper end of the central bank’s target range of 3%-6%
20 March 2024 - 16:01
Consumer prices crept up to 5.6% for the second month running in February, signalling a persistent upward trajectory that could spell trouble for an economy still on the mend and raise bets that the Reserve Bank will take longer to cut interest rates.
The February consumer inflation index is a nudge above the 5.3% recorded in January but it is edging closer to the upper end of the central bank’s target range of 3%-6%, and even further away from the preferred 4.5% comfort zone for Reserve Bank governor Lesetja Kganyago. ..
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