Inflation down to 8.5% | The Rand Today

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Wednesday, 29th April 2009 at 4:08 pm by Rander

Inflation down to 8.5%

Data released today (29 April 2009) shows that South Africa’s targeted consumer inflation slowed slightly to 8.5% year-on-year in March from 8.6% in February. Analysts had predicted the rate to come down as low as 8.4% but they were not too far off. It is expected that the consumer price index (CPI) should come down to the central banks target of between thee and six percent by October this year. Headline CPI inflation stood at 1.3% on a monthly basis in March compared to 1.2% in February.

All eyes will now be on the central bank tomorrow when they make a decision on interest rates. Most are expecting interest rates to go down by 100 basis points tomorrow but we could only see a 50 basis point drop.

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