Inflation quickens to 3.2% in March
Inflation accelerates moderately, but undershoots analyst estimates and stays below midpoint of Reserve Bank’s target band for 13th month
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...