South Africa’s central bank said on Tuesday that upside risks to inflation had strengthened over the past months, heightening uncertainty about a precise path for inflation.
The South African Reserve Bank (SARB) in its October Monetary Policy Review said the rise in oil prices, dry weather conditions and elevated inflation expectations were all negatively impacting the inflation outlook.
The central bank aims to keep inflation within its target band of 3%-6% with a mid-point of 4.5% as the preferred anchor.
Headline inflation rose to 4.8% in August and the September inflation print is expected on Wednesday.—Zawya News
