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BDLive reports that Statistics SA announced on Wednesday that the consumer price index (CPI) rose 6.2% year-on-year in April, slowing from 6.3% in March and 7% in February.
Contributing to this moderation was the lower petrol price increase in April, of 88c a litre versus the 162c increase in April 2015, said Investec economist Kamilla Kaplan. However, consumer inflation is still outside the Reserve Bank’s 3%-6% target. Most economists are expecting the Reserve Bank to pause in its rate-increasing cycle when it announces the decision of its monetary policy committee meeting on Thursday.
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