Inflation accelerated in March on an annual basis but stayed well below the midpoint of the Reserve Bank’s 3%-6% target band, leaving more scope for policymakers to keep rates lower for longer to shore up SA’s pandemic-hit economy.

Consumer price inflation quickened to 3.2% in March on an annual basis, up from 2.9% the previous month, according to Stats SA on Wednesday. Even so, that was below the 3.3% median estimate in a Bloomberg survey of 15 forecasts conducted before the data was released. The consumer price index (CPI) increased 0.7% month on month in March...

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