Inflation steady

South Africa's targeted CPIX inflation was steady at 5percent year-on-year last month, slightly below forecasts and easing pressure for higher interest rates, official data showed yesterday.

South Africa's targeted CPIX inflation was steady at 5percent year-on-year last month, slightly below forecasts and easing pressure for higher interest rates, official data showed yesterday.

"The number is much lower than what the market expected and this, coupled with the declining oil price, is improving the inflation outlook," Nedbank economist Magan Mistry said.

It was unlikely the CPIX would breach the upper limit of the 3 to 6 percent target, so rates could stay unchanged. - Reuters

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