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25 May 2012
   
 
 
Article by: Sapa
 
 
 

Consumer price inflation (CPI) edged higher in December, rising above the South African Reserve Bank's (SARB's) inflation target ceiling, Statistics South Africa said on Wednesday.

According to the Pretoria-based agency, December's CPI rose to 6,3% year-on-year from 5,8% year-on-year in November.

This was in line with economists' forecasts.

On Tuesday SARB governor Gill Marcus said that forecasts indicated that inflation could measure around 6,5% in both December and January, before moderating in the subsequent months.

Marcus said that in line with market forecasts, inflation was expected to return to within the inflation target range of 3% to 6% on a sustained basis in March 2010.

It should then remain within the target range until the end of the forecast period in the final quarter of 2011, when it was forecast to average 5,4%.

 

 

Edited by: Sapa
 
 
 
 
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