Consumer inflation accelerated slightly in February to 4.1% year on year, remaining below the mid-point of the Reserve Bank's target range of 3%-6%. Core inflation — which strips out volatile items such as fuel and food — rose 4.4% in February, unchanged from the previous month, Statistics SA said on Wednesday. Statistics SA's miscellaneous goods and services category — which covers items such as insurance or personal affects — registered the fastest rate of increase, growing 5.6% on an annualised basis,

Consumer inflation decelerated to 4% in January, lower than the markets’ forecast of 4.3%. It measured 4.5% in December. Inflation, as measured by the annual change in the consumer price index (CPI), is the key measure used by the Reserve Bank’s monetary policy committee (MPC) to set interest rates.

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