Will sticky inflation risks force the Reserve Bank’s hand?
September consumer inflation came in at 5% against a backdrop of rising global price pressure
Consumer inflation drifted up to its highest level since May in September, and recorded its fifth month out of line with the 4.5% midpoint of the SA Reserve Bank’s target range.
September’s increase to 5% year on year — driven by increases in fuel, food and housing and utilities, according to Stats SA — was in line with expectations. But it comes as rising energy prices and supply-chain bottlenecks stoke global inflation fears and developed market central banks make more noise about tightening monetary policy sooner rather than later. ..