South African inflation rampant despite rate hikes
Statistics South Africa, the government statistics agency, revealed that the monetary-policy-relevant measure of inflation, the CPIX, had risen to 7.3% in October, up from 6.7% the previous month. Inflation is now 1.3 percent above the upper limit of the South African Reserve Bank's 3% to 6% target range.
Increases in food and transport prices were behind the increases. The
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