In May, South Africa’s annual consumer inflation rate held steady at 5.2%, unchanged from April, according to the statistics bureau. On a monthly basis, inflation slightly dipped to 0.2% in May from 0.3% in April. Despite the South African Reserve Bank maintaining its key interest rate at its highest level since 2009 for over a year, inflation remains above the bank’s desired mid-point target of 4.5%. The Reserve Bank, expressing concerns about persistent high inflation expectations, projected that inflation would stabilize at 4.5% by the second quarter of 2025. This ongoing concern reflects the challenges the central bank faces in trying to manage inflation within its target range. (Source: Reuters)
Original Source: Mozambique
Date: 2024-06-20 03:46:02
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