Consumer inflation accelerates again in October
Latest figures reinforce view that Reserve Bank may maintain tighter policy stance for longer
22 November 2023 - 11:07
UPDATED 22 November 2023 - 16:59
Headline inflation accelerated to the top end of the Reserve Bank’s 3%-6% target range in October, reinforcing the view that the Bank could maintain its tighter policy stance for longer before adjusting it lower to relieve pressure on indebted consumers and businesses.
The consumer price index (CPI) rose 5.9% year on year in October, the highest since May, Stats SA said in a statement on Wednesday. In September, CPI rose 5.4% on an annual basis. ..
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