Cost-of-living crisis as CPI races to 5.9%, ahead of rate decision
Stoked by rising food prices, South Africa’s Consumer Price Index (CPI) accelerated to 5.9% in October from 5.4% in September.
Source: 123RF.
This outpaced market expectations and brings CPI to the top of the SA Reserve Bank’s 3% to 6% target range just ahead of its next interest-rate decision.
The central bank is expected to hold rates steady, but the latest CPI read will give it pause for thought.
Read the full article by Ed Stoddard at Daily Maverick.