Inflation quickens to 8,6%

THE TaRGETED CPI inflation quickened more than expected to 8,6% year-on-year last month from 8,1% in January, official data showed today. Statistics South Africa also said headline inflation stood at 1,2% on a monthly basis in February compared to 0,4% in January. A Reuters poll of 14 economists forecast CPI would quicken to 8,2% year-on-year and come in at 0,6% on a monthly basis. From January, a revised and re-weighted CPI replaced CPIX — which stripped out mortgage costs — as the central bank’s targeted inflation measure.

Source: www.businessday.co.za

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